BUZZ-Valvoline rises after Stifel upgrades stock to 'buy'

Reuters03-24
BUZZ-Valvoline rises after <a href="https://laohu8.com/S/SFB">Stifel</a> upgrades stock to 'buy'

** Shares of automotive service provider Valvoline VVV.N rise 3.6% to $33.93 after Stifel upgrades to "buy" from "hold"

** Brokerage says the recent pullback provides a compelling entry point, with market concerns regarding base oil inflation and gasoline prices appearing to be largely discounted

** Adds that since finished lubricants represent only ~12% of total revenue and consumer mobility has historically shown remarkable resilience, VVV's superior pricing power should effectively mitigate these macro headwinds

** Brokerage also raises PT to $42 from $40, implying a 28.2% upside to the stock's last close

** 13 of 17 analysts rate stock "strong buy" or "buy", three "hold" and one "sell"; their median PT is $42 - data compiled by LSEG

** Including session's move, stock up 17% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

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