Delek US price target lowered to $27 from $29 at Piper Sandler

Piper Sandler analyst Ryan Todd lowered the firm’s price target on Delek US to $27 from $29 and keeps a Neutral rating on the shares. The analyst reduced independent refiner estimates to reflect a combination of mark to market on Q2 commodity pricing, as well as adjustments to operating assumptions. The new estimates show the impact of unplanned downtime, narrowing heavy differentials and narrowing jet/diesel spreads, offset slightly by strength in retail, the analyst tells investors in a research note.