Credit Suisse Downgrades PBF Energy (PBF) to Underperform

Credit Suisse downgraded PBF Energy (NYSE: PBF) from Neutral to Underperform with a price target of $18.00.

Analyst Edward Westlake said the company has the greatest grey sky risk to weaker refining fundamentals. The analyst said weaker product markets and light-heavy diffs add to the risk. They lower '17 EPS touch to 1.24/sh, but raise some of the out years below the line on lower modeled tax rates.

For an analyst ratings summary and ratings history on PBF Energy click here. For more ratings news on PBF Energy click here.

Shares of PBF Energy closed at $22.34 yesterday.

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