Piper Sandler raised the firm’s price target on Valero (VLO) to $160 from $142 and keeps an Overweight rating on the shares. As the firm continues to adjust its outlook for Q2 earnings for the refiners, Piper sees estimates as likely showing very modest downside to recent Street numbers, as June margins softened from the highs of May – with upwards pressure over the last couple of weeks offering some encouragement for the 3rd quarter.
Don’t Miss TipRanks’ Half-Year Sale
- 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 VLO:
- Valero Energy: Positive Market Conditions and Segment Improvements Justify Buy Rating
- Valero price target raised to $168 from $151 at Wells Fargo
- Valero Energy’s Strong Performance and Market Conditions Drive Buy Rating and Price Target Increase
- Valero price target raised to $164 from $150 at UBS
- Valero price target raised to $155 from $150 at Raymond James