VVV - Valvoline: Quick Lubes Retail Ops Grease Path To $300 Million Share Buyback

• As suggested in my first Seeking Alpha article on Valvoline, the company posted a strong Q2 beat, increased its full-year FY21 guidance, and has allocated $300 million more for buybacks.
• Valvoline's Quick Lubes retail service outlets are performing very well and is the primary growth catalyst moving forward for delivering outstanding free cash flow.
• At a recent share price of $30.50, VVV is down ~$4 from a recent high of ~$34.50 in June. Investors can take advantage of the drop.
• I reiterate my BUY rating on the stock and lift my year-end PT from $32 to $35 based on the strong Q2 report, increased FY21 guidance for  EBITDA and EPS, and the $300 million stock buyback plan.

For further details see: