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Fly News Breaks for August 5, 2019
PBF
Aug 5, 2019 | 06:34 EDT
Goldman Sachs analyst Neil Mehta upgraded PBF Energy to Neutral with a price target of $24.50, saying the recent "sharp underperformance" driven by the Q2 earnings miss and due to concerns regarding elevated leverage may be priced into the valuation. The analyst adds that the "less compelling" free cash flow generation and capital returns potential for PBF Energy are "more than reflected" in price.
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