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Fly News Breaks for January 11, 2018
PBFX, PBF
Jan 11, 2018 | 08:35 EDT
As previously reported, Morgan Stanley analyst Benny Wong downgraded PBF Energy (PBF) to Underweight from Equal Weight citing valuation after the stock's recent outperformance and his view that the company's concentrated asset base giving it more earnings achievability risk than peers. He also believes PBF Logistics (PBFX) has a lower growth outlook than peers, Wong tells investors. The analyst, however, raised his price target on PBF Energy shares to $37 from $30.
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