Wolfe Research Upgrades to Outperform: Downstream Energy Provider Delek US Holdings with Additional 30% Upside Potential

Delek US Holdings (DK) has been performing strongly recently, even though the oil price has been moving sideways since July. Delek US is a diversified downstream energy provider with operations in oil refining, logistics including midstream infrastructure, and asphalt. The company operates four refineries in the United States (Texas, Arkansas, Louisiana) with a combined capacity of approximately 302,000 barrels per day. The logistics activities include the transportation and storage of crude oil and refinery products, with a strong presence in the...