In a report released today, David Lantz from Wells Fargo maintained a Buy rating on Valvoline (VVV – Research Report), with a price target of $42.00.
David Lantz has given his Buy rating due to a combination of factors that he believes make Valvoline a promising investment. He believes that Valvoline’s stock deserves to trade higher based on his analysis of the company’s recent performance and future prospects. Despite a softening sentiment prior to the print, the company’s cooperative comparable sales growth of approximately 9.1% met buy-side expectations. This indicates a strong performance in the market, which Lantz believes is a positive signal for the stock’s potential growth.
Additionally, he also takes into account the company’s FY24 guidance on Algo. This forward-looking projection suggests that the company has a solid strategic plan for future growth. This, coupled with the strong recent performance, leads Lantz to believe that the stock holds potential for higher trading levels. Consequently, he recommends a Buy rating for Valvoline’s stock, highlighting his confidence in the company’s robust growth potential.
According to TipRanks, Lantz is a 2-star analyst with an average return of -6.1% and a 0.00% success rate.
In another report released on November 6, RBC Capital also maintained a Buy rating on the stock with a $43.00 price target.
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Valvoline (VVV) Company Description:
Valvoline, Inc. is engaged in producing, marketing and supplying of engine & automotive maintenance products and services. The company operates through three segments: Engine and Automotive Maintenance Products, Company-Owned Quick-lube Operations, and Franchised Quick-Lube Operations. The Engine and Automotive Maintenance Products segment include lubricants, antifreeze, chemicals, filters, and other complementary products for use across a wide array of vehicles and engines. The Company-Owned Quick-lube Operations segment includes the sale of engine and automotive maintenance products and related services. The Franchised Quick-Lube Operations segment include product sales and the license of intellectual property, which provides access to the Valvoline brand and proprietary information to operate service center stores over the term of a franchise agreement. Its products include motor oil, gear oil, pro-v racing and antifreeze and radiator. Valvoline was founded in 1866 and is headquartered in Lexington, KY.
Read More on VVV:
- Valvoline Inc. Reports Fourth-Quarter and Fiscal Year 2023 Results
- VVV Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Monro enters exclusive supply agreement with Valvoline
- Valvoline Instant Oil Change Locations Raise Funds for the Fight Against Cancer
- Valvoline price target lowered to $35 from $38 at Citi
