Mizuho Securities analyst Nitin Kumar CFA maintains $PBF Energy (PBF.US)$ with a hold rating, and adjusts the target price from $42 to $36.
According to TipRanks data, the analyst has a success rate of 63.3% and a total average return of 14.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $PBF Energy (PBF.US)$'s main analysts recently are as follows:
It is anticipated that PBF Energy may not meet the expected free cash flow and earnings for Q3 even with operational efficiency gains. Given the challenging macro refining climate, especially on the West Coast, a considerable shortfall for PBF's Q3 performance is projected.
The perspective on PBF Energy suggests that the refining sector may have reached a turning point, with diesel demand on the upswing and supporting factors such as lower prices and payrolls bolstering gasoline demand. Additionally, refined product inventories are currently lower than usual. Looking ahead, expected increases in OPEC+ production by 2025 could lead to wider crude differentials, which would benefit coastal refiners. It is also anticipated that refining capacity expansions in the Western Hemisphere will be relatively constrained, as any increases resulting from new startups and expansions in biofuels are likely to be counterbalanced by planned closures in 2025.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
