Valero initiated with an In Line at Evercore ISI

Evercore ISI initiated coverage of Valero (VLO) with an In Line rating and $135 price target The firm says Valero remains a “bellwether pure-play refiner,” underpinned by its Gulf Coast-dominant footprint, disciplined capital allocation, and low operating cost structure. However, the stock has outperformed through the company’s first half of 2025 margin recovery, and consensus estimates appear to reflect a “constructive medium term scenario,” the analyst tells investors in a research note. As such, Evercore believes Valero’s valuation already embeds the near-term upside.