PBF Energy price target raised to $59 from $54 at JPMorgan

JPMorgan raised the firm’s price target on PBF Energy to $59 from $54 and keeps an Overweight rating on the shares. The analyst updated refiner models by marking to market Q1 cracks and crude differentials and updated Q2 assumptions to reflect the current environment. Improved fundamentals are driven by supply, but are largely priced into the shares, the analyst tells investors in a research note.