HF Sinclair price target raised to $38 from $34 at Wells Fargo

Wells Fargo analyst Roger Read raised the firm’s price target on HF Sinclair (DINO) to $38 from $34 and keeps an Equal Weight rating on the shares. Given seasonality and persistently narrow crude differentials, the firm continues to favor the large refiners over the smid-caps. Wells is adjusting its EPS estimates across its refining coverage on its updated forecasts and capture assumptions.