** BMO Capital Markets raises price target of refiner Valero Energy VLO.N to $270 from $230
** The new PT represents an upside of 10.6% to the stock's last close
** BMO says VLO is at the lower end of the global cost curve
** "Valero's U.S. Gulf Coast footprint positions it to access product export markets and source the lowest cost crude in the world," BMO says
** Adds that VLO won't expect meaningful gasoline weakness until prices reach about $5 per gallon, compared to $4/gallon currently
** 12 out of 21 brokerages rate the stock "buy" or higher and 9 "hold"; their median PT is $236 according to data compiled by LSEG
** As of last close, stock up ~50% YTD
(Reporting by Pranav Mathur in Bengaluru)
((Pranav.Mathur@thomsonreuters.com;))
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