Par Pacific Holdings ( (PARR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Par Pacific Holdings’ stock is climbing after Goldman Sachs updated its outlook on U.S. and Canadian oil companies to reflect growing risks and supply concerns from recent Middle East disruptions. The bank says these geopolitical tensions could support stronger refining margins and energy prices, benefiting Par Pacific’s business.
On the back of these new assumptions, Goldman Sachs raised its price target on Par Pacific shares to $53 from $44 while maintaining a Neutral rating. The higher target signals improved upside potential even as the firm stops short of turning fully bullish on the stock.
More about Par Pacific Holdings
YTD Price Performance: 44.91%
Average Trading Volume: 1,245,824
Technical Sentiment Signal: Buy
Current Market Cap: $2.5B
For further insights into PARR stock on TipRanks’ Stock Analysis page.
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