PBF Energy (PBF) PT Lowered to $32 at Citi

Citi analyst Vikram Bagri lowered the price target on PBF Energy (NYSE: PBF) to $32.00 (from $37.00) while maintaining a Neutral rating.

The analyst comments "We refresh our model for latest commodity prices. PBF will report 4Q results on 2/13. We are expecting a weak quarter for Refining, driven by lower margins and capture, lower throughput (Chalmette turnaround), and by Opex deleverage. WC likely saw a challenging environment as well. As a result, we model lower buybacks this quarter of ~$50mm vs. $75mm completed in 3Q. Overall, we model -$3.26/sh in EPS, lowest on the Street, and below sharp consensus of -$2.60/sh. Watch for any additional details on the $200mm run-rate savings plan on the CC. Maintain Neutral."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy