Par Pacific price target lowered to $38 from $41 at TD Cowen

TD Cowen lowered the firm’s price target on Par Pacific to $38 from $41 and keeps an Outperform rating on the shares. The firm said results were relatively weak as expected due to several one-time items that should dissipate in 4Q. Montana’s first full quarters of ops under Par Pacific was impacted by an unplanned outage contained to the quarter