Valero Energy shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $169 to $123.
Portfolio Pulse from Benzinga Newsdesk
Valero Energy's stock is experiencing a decline following a downgrade by Piper Sandler from Overweight to Neutral, with a reduced price target from $169 to $123.
September 20, 2024 | 4:04 pm
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NEGATIVE IMPACT
Valero Energy's stock is trading lower due to a downgrade by Piper Sandler from Overweight to Neutral, with a price target cut from $169 to $123.
The downgrade by Piper Sandler is a significant factor affecting Valero's stock price, as it reflects a less optimistic outlook. The reduction in the price target from $169 to $123 suggests a potential decrease in perceived value, leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100