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Alon USA Energy (ALJ) Stock Higher, Barclays Upgrades

NEW YORK (TheStreet) -- Shares of Alon USA Energy (ALJ) are up by 0.15% to $6.56 in mid-morning trading on Wednesday, as stock was upgraded to "equal weight" from "underweight" at Barclays earlier today.

The rating change comes as the firm no longer believes "it will underperform the sector, given its already depressed valuation."

The Dallas, TX-based energy company has "significantly underperformed since the end of 2012" partially due to its "subpar" refining assets, according to the analyst note. But "the shares' poor performance has now fairly reflected the poor asset quality, in our view."

Alon recently issued an update on its strategic...