Piper Sandler analyst Ryan Todd downgraded Par Pacific to Neutral from Overweight with a price target of $23, down from $37. The combination of incremental refined product capacity and weaker than expected demand have led Piper to adjust its 2025 refined product outlook, where it now expects global supply/demand balances to be roughly flat with 2024. The firm sees material downside to current Street estimates and views independent refiner valuations at current levels as “stretched,” offering limited upside heading into year-end. Piper downgraded a number of stocks to reflect the near-term headwinds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PARR:
- Par Pacific price target lowered to $28 from $30 at Mizuho
- Par Pacific price target lowered to $21 from $29 at UBS
- Par Pacific downgraded to Hold from Buy at TPH&Co.
- nomnom Launches Snack Attack Sweepstakes With Eastern Washington University Eagles
- Par Pacific Management to Participate in Investor Conferences
Questions or Comments about the article? Write to editor@tipranks.com