Wells Fargo lowered the firm’s price target on PBF Energy to $66 from $67 and keeps an Overweight rating on the shares. The firm says better than mid-cycle conditions remain intact. The recent softness in cracks is seasonally normal and implies a near-term trough with a summer rebound could be approaching, Wells adds.
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Read More on PBF:
- PBF Energy price target lowered to $54 from $61 at Piper Sandler
- PBF Energy reports Q1 adjusted EPS 86c, consensus 66c
- PBF Energy Announces First Quarter 2024 Results and Declares Dividend of $0.25 per Share
- PBF Energy price target raised to $56 from $39 at Scotiabank
- PBF Energy price target raised to $71 from $65 at Wells Fargo
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