Valero Energy Downgraded from Buy to Neutral

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Valero Energy (NYSE:VLO) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $33.75 on volume of 11.6 million shares, above an average daily volume of 9.3 million.There is a potential upside of 14.8% for shares of Valero Energy based on a current price of $33.75 and an average consensus analyst price target of $38.75. The stock should find initial support at its 50-day moving average (MA) of $28.30 and further support at its 200-day MA of $24.72.Over the past year, Valero Energy has traded in a range of $16.40 to $34.36 and closed yesterday at $33.75, 106% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has risen 1.2%.

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