JPMorgan analyst John Royall lowered the firm’s price target on PBF Energy (PBF) to $29 from $31 and keeps a Neutral rating on the shares. The firm updated Q1 estimates for the North America refiners given the move up in cracks since its assumptions were last made in mid January. JPMorgan says its below-consensus forecast on PBF is driven by expectations of capture headwinds in the West Coast due to timing of the Martinez outage.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PBF: