HF Sinclair price target raised to $68 from $60 at Wells Fargo

Wells Fargo raised the firm’s price target on HF Sinclair to $68 from $60 and keeps an Overweight rating on the shares. The analyst increased earnings estimates across the refining sector. The firm’s “significant” upward revisions to Q3 earnings estimates reflect much stronger refining margins than previously expected, the analyst tells investors in a research note. Wells says the continued strength in refining margins reflects solid demand and relatively low product inventories.