Shares of Delek US (DK) are soaring 5.02% in Tuesday's intraday trading session, following a significant upgrade from Mizuho Securities. The stock's upward movement comes as investors react positively to the improved outlook for the energy company.
Mizuho Securities raised its rating on Delek US from Neutral to Outperform, signaling increased confidence in the company's future performance. Along with the upgrade, Mizuho also boosted its target price for Delek US to $23 per share, up from the previous target of $22. This revision represents a vote of confidence in the company's potential for growth and profitability.
The upgrade from Mizuho could reflect improving fundamentals in the energy sector or company-specific factors that the analysts believe will benefit Delek US. As a downstream energy company focused on petroleum refining and logistics, Delek US's performance is often tied to broader trends in energy markets and consumer demand for refined products. Investors will likely be watching closely for any further details or catalysts that support Mizuho's more bullish stance on the stock.
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