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Fly News Breaks for April 29, 2019
VLO, MPC, PBF, HFC, PSX
Apr 29, 2019 | 07:08 EDT
BofA Merrill Lynch analyst Doug Leggate said he believes the worst has passed for the U.S. independent refiners and that he now has a less cautious sector view, upgrading HollyFrontier (HFC) and PBF Energy (PBF) to Neutral and raising his rating on Phillips 66 (PSX) to Buy, stating that he sees all the stocks trading below mid-cycle valuations. He noted that his top rated ideas in the group remain Marathon Petrol (MPC) and Valero (VLO).
News For PSX;HFC;PBF;MPC;VLO From the Last 2 Days
VLO
Apr 18, 2024 | 06:20 EDT
Citi analyst Vikram Bagri raised the firm's price target on Valero to $192 from $160 and keeps a Buy rating on the shares. The analyst refreshed the company's model for the latest commodity prices. Valero embarked on a larger maintenance period in Q1, which should position the company well ahead of a potentially strong summer driving season, the analyst tells investors in a research note. However, Citi sees low prospects for a sharp price reaction to the Q1 print with the shares up 29% year-to-date.
PSX
Apr 18, 2024 | 05:29 EDT
Barclays analyst Theresa Chen raised the firm's price target on Phillips 66 to $155 from $139 and keeps an Equal Weight rating on the shares. The analyst increased the price target after exploring the impacts and opportunities of an evolving infrastructure landscape for midstream and downstream operators "amid a dynamic price backdrop."
