Valvoline price target lowered to $46 from $52 at RBC Capital

RBC Capital lowered the firm’s price target on Valvoline (VVV) to $46 from $52 and keeps an Outperform rating on the shares after its Q4 earnings beat and below-consensus guidance. The company’s underlying business is healthy, but with comps directionally slowing and the long-term algo at risk, Valvoline shares are likely to remain rangebound near term, the analyst tells investors in a research note. RBC maintains that shares are undervalued, but also does not see “many near-term catalysts” to be realized, the firm adds.