UBS Maintains Neutral Rating for PBF Energy: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
UBS has maintained a Neutral rating for PBF Energy (NYSE:PBF) but lowered its price target from $53.00 to $49.00. PBF Energy's shares have fallen 2.42% to $40.00 in the last 24 hours. The new price target suggests a potential upside of 22.5% from the current price. PBF Energy is an independent petroleum refiner with operations in refining and logistics, owning refineries across several states.
December 07, 2023 | 5:00 pm
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NEUTRAL IMPACT
UBS maintains a Neutral rating on PBF Energy and lowers the price target from $53 to $49, indicating a potential 22.5% upside from the current price.
The maintenance of a Neutral rating by UBS suggests no significant change in the company's outlook, while the decrease in price target could be seen as a slight negative. However, the new target still implies a substantial upside, which may mitigate negative sentiment. The recent 2.42% drop in share price could be a reaction to the lowered target, but the overall impact is likely to be neutral in the short term as the market absorbs the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80