Goldman Sachs upgraded Par Pacific (PARR) to Buy from Neutral with a price target of $19, up from $18, implying 34% upside. The firm sees a “compelling risk/reward set-up” at current share levels. Despite macro uncertainty and tougher Asia demand dynamics, there is potential for Par’s Singapore margins to bottom, the analyst tells investors in a research note. Goldman believes the company’s Hawaii refining business is positioned to benefit from a recovery in margins.
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