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Credit Suisse's Rating Change Only Had Short-term Impact, Delek US Holdings Up 0.2% (DK)

By Nick Russo

Credit Suisse downgraded Delek US Holdings (NYSE:DK) from Outperform to Neutral a week ago. The shares closed at $17.24, or 0.2% over the $17.20 price of one week ago.

Delek US Holdings has overhead space with shares priced $17.24, or 55.9% below the average consensus analyst price target of $39.10. The stock should hit resistance at its 200-day moving average (MA) of $23.30, as well as support at its 50-day MA of $15.43.

SmarTrend recommended that subscribers consider buying shares of Delek US Holdings on August 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.13. Since that recommendation, shares of Delek US Holdings have risen 20.8%. We continue to monitor DK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections delek us holdings

Ticker(s): DK