HF Sinclair price target lowered to $67 from $68 at Piper Sandler

Piper Sandler lowered the firm’s price target on HF Sinclair (DINO) to $67 from $68 and keeps an Overweight rating on the shares. The firm cites slight adjustments to operating assumptions. Piper is reducing its Q4 2025 EPS/EBITDA estimates lower to 44c share/$358M vs 96c share/$473M prior. The revision is driven by a weaker West Coast on a combination of lower-than-expected refining capture, throughput and modest adjustments to Lubes. Although the firm sees this as a tough quarter for HF Sinclair, it expects the noise on the WC to be non-recurring and remains bullish on the story into 2026.