PBF Energy price target lowered to $22 from $25 at Wells Fargo

Wells Fargo lowered the firm’s price target on PBF Energy (PBF) to $22 from $25 and keeps an Equal Weight rating on the shares. The firm is updating its estimates to reflect the recent press release updates on Martinez as well as the $750M senior debt offering due 2030, the analyst tells investors in a research note.