Valero price target raised to $270 from $230 at BMO Capital

BMO Capital raised the firm’s price target on Valero (VLO) to $270 from $230 and keeps an Outperform rating on the shares after meeting with its management team in recent days. The firm notes that the company sits at the low-end of the global cost curve and consistently executes through the cycle, also stating that the US Gulf Coast – USGC – margins are currently supported by strong export markets and advantaged crude prices, the analyst tells investors in a research note.