JPMorgan lowered the firm’s price target on Delek US to $19 from $26 and keeps a Neutral rating on the shares. The firm marked to market its Q3 crack assumptions for the refining group. Additionally, it updated 2025 estimates and established year-end 2025 price targets virus 2024 previously. The analyst is cautious on the group over the near term, saying the U.S. and global industry continue to run higher utilizations than demand calls for.
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