Market Overview

UPDATE: Deutsche Bank Initiates PBF Energy at Hold on Weak Refining Demand

Share:
Related
22 Stocks With Three-Day Increasing Volume
Goldman's Pair Trade In Refining: CVR Energy Upgraded, PBF Energy Downgraded

Deutsche Bank initiated coverage on PBF Energy (NYSE: PBF) with a Hold rating and a $30.00 price target.

Deutsche Bank said, "PBF Energy, chaired by refining legend Tom O'Malley, remembered for triumphs with Tosco & Premcor, less fondly for the struggle with European Petroplus, has established itself as a play on the extension of the US oil revolution into East Coast refining. Underpinned by a highly advantaged single Mid Con refinery, the next leg is to bring heavy Canadian crude by rail to Delaware, so revolutionizing crude costs. It makes sense, but we are currently underweight refining on weak demand."

PBF Energy closed at $28.50 on Friday.

Latest Ratings for PBF

DateFirmActionFromTo
Sep 2016Piper JaffrayMaintainsNeutral
Sep 2016Deutsche BankMaintainsHold
Sep 2016Goldman SachsDowngradesNeutralSell

View More Analyst Ratings for PBF
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (PBF)

View Comments and Join the Discussion!