BUZZ-Piper Sandler raises PT of refiners on tighter market outlook
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Piper Sandler has raised the price targets for several refiners due to a tighter market outlook, indicating that the global product markets remain relatively tight. The firm notes that distillate tightness entering winter could lead to higher margins, benefiting the sector as it heads into 2026. The updated price targets include HF Sinclair at $59, Delek US Holding at $34, Marathon Petroleum at $222, Par Pacific Holding at $44, PBF Energy at $29, Phillips 66 at $154, and Valero Energy at $200, with respective upsides ranging from ~3% to 32.2%.
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