Delek US upgraded to Neutral from Underperform at Mizuho

Mizuho upgraded Delek US to Neutral from Underperform with a price target of $26, down from $28. The company continues to make progress on the “many strategic initiatives” recently announced, that aim to primarily address the discount to its perceived sum-of-parts value, the analyst tells investors in a research note. The firm sees the successful completion of the announced deals and operational projects and the potential extension of the cost-cutting targets as near-term catalysts for the shares.