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NEW YORK, July 28 (Reuters) - Shares of HollyFrontier Corp. , a Dallas-based oil refiner, are expected to rise 30 percent over the medium term due to its access to cheaply-priced crude produced in North Dakota, West Texas, and the Rocky Mountain region, the weekly business newspaper Barron's reported on Sunday.
Barron's cited Stelliam Investment Management analyst Matt Murphy saying refineries like HollyFrontier situated near the sources of crude production stand to benefit from the current boom in North American oil production.
The Barron's article said Murphy values the company at $55-$60 per share. Last Friday, HollyFrontier shares ended up 0.5 percent at $44.36.
Barron's said HollyFrontier owns a a profitable group of refineries and may have the industry's best balance sheet. At $44 per share, Barron's the company trades just eight times 2013 earnings.