Deutsche Bank initiated coverage on PBF Energy 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in