On July 13, PBF Energy rose 5.49% in regular trading, trading at $56.69/share, with turnover of $24.31 million. The stock significantly outperformed peers as the refining sector rallied broadly, with Valero up 3.41%, Marathon Petroleum up 3.56%, and HF Sinclair up 3.62%.
On the news front, TD Cowen upgraded PBF Energy from Sell to Hold on June 29, raising its price target from $36 to $39. The consensus analyst mean price target stands at $45.09. Additionally, PBF is scheduled to report Q2 earnings on July 30, with market expectations of $3.75 EPS, a sharp improvement from the Q1 adjusted loss of $0.88 per share. The Martinez refinery restart progress is expected to boost second-half operational efficiency, supporting the earnings recovery thesis.
Further underpinning sentiment, Morgan Stanley noted that refining margins are unlikely to return to pre-conflict levels soon due to refinery damage and trade flow disruptions, maintaining a structurally supportive backdrop for independent refiners.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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