Raymond James analyst Justin Jenkins raised the firm’s price target on Valero (VLO) to $155 from $150 and keeps a Strong Buy rating on the shares. Raymond James expects Q2 earnings season for refiners to be the best since 1Q24, though “that’s a fairly low bar” given the difficult backdrop of the past several quarters, the analyst tells investors in a research note. The demand picture has held in well despite persistent economic and headline worries, the firm adds.
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