Valero price target raised to $171 from $168 at Piper Sandler

Piper Sandler raised the firm’s price target on Valero to $171 from $168 and keeps an Overweight rating on the shares. The firm is also updating its estimates for Valero, based on a combination of mark to market on Q3 commodity pricing, as well as adjustments to operating assumptions. Modest headwinds to refining capture are driving a slight reduction to Piper’s prior estimates.