TD Cowen raised the firm’s price target on Par Pacific (PARR) to $48 from $39 and keeps a Buy rating on the shares. The firm said 4Q results were impacted by Rockies maintenance to the downside and a Pac-NW pipeline outage to the upside. 2Q should be stronger than 1Q on inland seasonality, though new regional product pipes could result in lower highs in the future.
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