PBF Energy shares are trading lower after Piper Sandler downgraded the stock from Neutral to Underweight and lowered its price target from $47 to $25.
Portfolio Pulse from Benzinga Newsdesk
PBF Energy's stock is experiencing a decline following a downgrade by Piper Sandler from Neutral to Underweight, with a significant reduction in the price target from $47 to $25.
September 20, 2024 | 2:22 pm
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NEGATIVE IMPACT
PBF Energy's stock is under pressure after Piper Sandler downgraded it from Neutral to Underweight, reducing the price target from $47 to $25.
The downgrade by Piper Sandler is a significant negative signal for PBF Energy, as it suggests a lack of confidence in the stock's near-term performance. The substantial reduction in the price target from $47 to $25 indicates a bearish outlook, likely leading to selling pressure and a decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100