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Delek US price target lowered to $11 from $16 at Wells Fargo

Wells Fargo lowered the firm’s price target on Delek US (DK) to $11 from $16 and keeps an Underweight rating on the shares. The firm cites a lower refining multiple. Wells’ revised Q1 2025 estimates account for weaker margins and higher opex across all 4 refineries.

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