Piper Sandler raised the firm’s price target on Valero (VLO) to $201 from $200 and keeps an Overweight rating on the shares. Nearly lost in the headlines of increased sanctions on Russia – and the accompanying 5% increase in crude and 7% jump in refining stocks – Valero kicked off Q3 refining results season with a strong 20% beat on Street earnings estimates, the firm notes. Piper continues to see upside to Street estimates in Q4 and FY26, and Valero’s report/guide did nothing to change that.
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