Boston, MA 04/30/2014 (wallstreetpr) – Western Refining, Inc. (NYSE:WNR) is one of the leading names in the oil production and marketing industry. Not only its customers, but one of the leading investment banking firm Bank of America (NYSE:BAC) now considers Western Refining Inc. a good option for long term investment. According to a report published recently, Brian Brazinski, a Bank of America analyst gave a better buy rating to the company and increased the price target from $34 to $38 which is a good sign for the company.
According to Bank of America officials, ” We recently had a meeting with the management from Western Refining, Inc. and WNRL’s general partner (GP). Several topics were discussed in that meeting. Some of the important topics are- The growth potential of Western Refining Logistics LP (NYSE:WNRL), sizeable drop-down dowry of company, and the long term sources of income for both Western Refining Inc, and it’s logistics arm Western Refining Logistics LP.
According to the bank, both the firms have an excellent earning potential in long term duration. If decisions are taken strategically, then the growth which company will witness in long term, will be immense.
A Bigger Picture:
Western Refining is devoted towards putting the lives of all the customers on ease. They are a prominent name in the field of oil products, oil refinery and marketing of oil products. With the first quarter of current year has just got over and company has produced quite amazingly, the road to success in coming months seems easy.
With the support of Bank of America and all the prominent customers company seeks to improve its services and products in months to come. Market competition in the oil industry is not hidden from anyone, and how company responds to this competition will be very interesting to watch. Everyone will get a clearer picture in few months’ time.
