By Paul Sankey
Published on April 27, 2022 at 8:01 AM
Client feedback on yesterday’s Long ADM short Tyson note. “If you love ADM and think it’s attractively valued, you must not be able to contain yourself over Bunge ????” Long Valero and Refiners – Valero streching for $7 EPS in Q2 and $150 price target Long Arch Coal and/or Peabody – huge free cashflow and implied cash return, like Archer Daniels, like refiners, everything is going their way. Don’t fight it, embrace reality. ~ CNBC: […]
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By Paul Sankey
Published on April 25, 2022 at 8:58 AM
With the company reporting tomorrow, a client asked if it was time to sell Valero with the stock over $100/share. Our first target was $120 prior to the Ukraine invasion. We now think that $150/share is a stretch target. For your consideration: Using VLO’s reported indicators as a starting point, we see momentum established in late 1Q has carried through to 2Q so far. These are straight off the VLO website: We’re in uncharted territory […]
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By Paul Sankey
Published on April 24, 2022 at 5:46 PM
Quick read today as you got a longer note yesterday on LNG, and I am running late. Just pictures today, and Betsey asked to be on the cover of the Sunday Sankey so it’s a presentation. All the fun favourite charts. Key slides: next week’s earnings highlights starting with Valero. Relative performance, oils performance, high free cashflow yields, and a cash return chart that will be updated on a rolling basis through earnings. Earnings calendar […]
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