Valero price target raised to $143 from $121 at BofA

BofA raised the firm’s price target on Valero (VLO) to $143 from $121 and keeps a Neutral rating on the shares. The firm, which refreshed its refiners estimates and notes it is below consensus for 2025 and 2026 EBITDA, points out that its price objectives for the “Majors” Chevron, ExxonMobil, and Occidental are “little changed,” but adds that it revised up its targets for refiners, as they no longer embed a worse case recessionary environment.