PBF Energy ( (PBF) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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PBF Energy shares are climbing as improving gasoline and diesel crack spreads boost profit expectations, while its Martinez refinery moves closer to full output after a major rebuild. Traders are betting that stronger margins and higher utilization will translate into better earnings in the coming quarters.
Adding fuel to the rally, Mizuho has raised its price target on PBF Energy to $45, signaling growing confidence from Wall Street. The stock’s advance is also being amplified by unusually heavy bullish options activity, extending a notable multi-day winning streak.
More about PBF Energy
YTD Price Performance: 74.02%
Average Trading Volume: 3,555,705
Technical Sentiment Signal: Buy
Current Market Cap: $5.48B
For further insights into PBF stock on TipRanks’ Stock Analysis page.
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