UBS upgraded PBF Energy (PBF) to Buy from Neutral with a price target of $26, up from $20. The firm cites “strong improvement” in refining fundamentals for the upgrade. Surplus heavy barrels drive wider heavy light spreads and lower crude prices drive higher demand for refined products, the analyst tells investors in a research note. UBS believes that as long as the U.S. can avoid a recession, demand will “surprise to the upside.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PBF:
- PBF Energy price target lowered to $20 from $23 at Piper Sandler
- Sell Rating on PBF Energy Due to Operational Risks and Unfavorable Market Conditions
- PBF Energy price target lowered to $18 from $22 at Wells Fargo
- PBF Energy Reports Q1 2025 Loss and Strategic Moves
- PBF Energy’s Earnings Call: Achievements Amid Challenges