Goldman Sachs analyst Alexa Petrick upgraded Par Pacific (PARR) to Buy from Neutral with a price target of $77, up from $53, after assuming coverage of the name. The firm expect “strong positive” consensus estimate revisions due to strength in the company’s Hawaii earnings and “underappreciated” mainland refiners. Goldman is also constructive on the integrated value of Par’s business, which it believes provides stable cash flow amid a more volatile near-term macro environment.
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Read More on PARR:
- Par Pacific price target raised to $60 from $40 at UBS
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