Valero price target raised to $155 from $150 at Raymond James

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.