Wells Fargo raised the firm’s price target on PBF Energy to $71 from $65 and keeps an Overweight rating on the shares. The firm is adjusting its assumed EBITDA valuation multiple to 4.5-times from 4.0-times as part of its quater-end adjustments, the analyst tells investors in a research note.
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Read More on PBF:
- PBF Energy price target raised to $61 from $50 at Piper Sandler
- PBF Energy price target raised to $59 from $54 at JPMorgan
- PBF Energy downgraded to Neutral on valuation at Mizuho
- PBF Energy downgraded to Neutral from Buy at Mizuho
- PBF Energy upgraded to Buy at BofA, sees U.S. refiners re-rating higher