Par Pacific price target raised to $26 from $21 at Piper Sandler

Piper Sandler analyst Ryan Todd raised the firm’s price target on Par Pacific (PARR) to $26 from $21 and keeps an Overweight rating on the shares. The firm notes that although Par Pacific’s Q1 result was largely in-line with expectations, the combination of much stronger than expected regional margin trends in Q2, earlier than expected turnaround completion in WY, and margin capture tailwinds drive material positive revisions to its Q2/FY25 estimates.