Deutsche Bank analyst Paul Sankey has upgraded his rating on shares of Delek US Holdings to 'buy' from 'hold' and hiked his price target to $40 from $30. Sankey, who also upgraded other refining plays, has grown more bullish on the company given the excess supply of light sweet crude. Investor sentiment toward refiners has swung in recent weeks, with Delek (Ticker: DK) popping 30 percent in the past month.
Over at Sidoti, analysts have begun covering shares of AmSurg with a 'neutral' rating and a price target of $48, about $2 above the company's Monday open. AmSurg (Ticker: AMSG) has risen 6 percent in the past month and is up more than 50 percent in 2013.
The board of directors of Delek US Holdings has approved a fourth special dividend of 2013, which will lift the company's total payouts for the year to $1.05 per share. Chairman, President and CEO Uzi Yemin points out that the company has been able to juggle many corporate finance priorities, which raises the question: What might investors do once (or if) the special dividends dry up?
On Thursday, Delek shares (Ticker: DK) fell 1.5 percent to $28.74. They are still up almost 15 percent in 2013 and have nearly tripled over the past two years.
Nissan's November sales were up 10.7 percent from a year ago to 106,528, with both the Nissan and Infiniti brands setting records for the month. The Franklin-based car maker outpaced the industry's 8.9 percent growth from a year ago but lagged the growth at General Motors and Chrysler. The company's sales are now up 9.2 percent for the year.
Nissan executives this spring made a big splash with their ZEOD electric race car, which the company rolled out after splitting from the innovative DeltaWing project. Now the DeltaWing group — newly led by former Firestone racing point man Al Speyer — is suing the car maker, saying it and designer Ben Bowlby have, among other things, misappropriated confidential information and breached their contracts. Racer's Marshall Pruett has the lowdown, including a short response from Nissan.
Genesco shares (Ticker: GCO) took a 3 percent hit Monday after Piper Jaffray analyst Stephanie Wissink downgraded them to 'neutral' from 'overweight.' We couldn't find any details as to why Wissink made her move, but we're guessing it's a post-Black Friday reaction along the lines of her Canaccord Genuity peer Camilo Lyon. Assessing consumers' holiday behavior, Lyon said apparel retailers appeared to have to dish out deep discounts to lure buyers. But athletic retailers, he added, seemed to fare better — presumably at the expense of more fashion-oriented Genesco.
Analysts at Howard Weil have begun covering the limited partner interests of Delek Logistics with an 'outperform' rating and a price target of $36. The company (Ticker: DKL) opened trading Monday at $30.01 and climbed more than 3 percent to finish a penny below $31.
Louisiana-Pacific has recruited a 26-year veteran of the forest products sector to be its regional operations manager in Canada, where the company will grow its presence from five to nine plants when it wraps up its $1.1 billion purchase of Ainsworth Lumber. Mac Palmiere had until this summer run Howe Sound Pulp and Paper in British Columbia and will continue to be based in Vancouver.
- BRASWELL, ROBERT
- GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR
- GARRETT, TIMOTHY M EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR
- GARRETT, JOHNNY C IV EXECUTOR; GARRETT, JOHNNY C EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR