TRGP, CVRR, and HCLP: Key Rating Updates Last Week

Barclays downgraded CVR Refining

On October 3, Barclays cut its rating for CVR Refining (CVRR) from “equal weight” to “underweight.” Barclays cut its target price for CVR Refining from $24 to $20. CVR Refining fell 2.7% in the week ending October 5. The stock has risen ~10% year-to-date.

Of the eight analysts surveyed by Reuters covering CVR Refining, one analyst rated it as a “buy,” one analyst rated it as a “sell,” and six analysts rated it as a “hold.” The median target price for CVR Refining is $22.

TRGP, CVRR, and HCLP: Key Rating Updates Last Week

The above graph shows analysts’ recommendations for CVR Refining, Hi-Crush Partners (HCLP), and Targa Resources (TRGP).

Hi-Crush Partners’ downgrade

Hi-Crush Partners saw two downgrades last week. Credit Suisse downgraded Hi-Crush Partners from “outperform” to “neutral.” Credit Suisse cut its target price for the stock from $14 to $11. UBS cut its rating for Hi-Crush Partners from “buy” to “neutral” and lowered the target price for the stock from $18 to $10.

After the rating changes, Hi-Crush Partners has five “buy” and 11 “hold” recommendations. The median target price for Hi-Crush Partners is $14.

Barclays upgraded Targa Resources

On October 3, Barclays raised its rating for Targa Resources from “equal weight” to “overweight.” Barclays raised its target price for Targa Resources from $54 to $65. Of the 21 analysts surveyed by Reuters covering Targa Resources, seven analysts rated the stock as a “strong buy,” five analysts rated it as a “buy,” and nine analysts rated it as a “hold.” The median target price for Targa Resources is $58.

To learn more about Targa Resources, read TRGP and OKE Have Outperformed the Energy Sector in 2018.