Valero price target lowered to $140 from $144 at Piper Sandler

Piper Sandler analyst Ryan Todd lowered the firm’s price target on Valero (VLO) to $140 from $144 and keeps an Overweight rating on the shares. The firm says it continues to prefer Valero amongst the large caps, although it acknowledges that disappointing Q2 throughput guidance may be a relative tailwind for MPC in the near-term.