Valero Energy (VLO) PT Raised to $350 at TD Cowen

TD Cowen analyst Jason Gabelman raised the price target on Valero Energy (NYSE: VLO) to $350.00 (from $338.00) while maintaining a Hold rating.

The analyst comments "2Q EPS benefited from strong USGC throughput and Renewables results. VLO suggested 3Q refining indicators and capture should be stronger than 2Q while Renewables strength should continue, paving the way for record EPS in 3Q. We estimate VLO has repurchased a max 4% of market cap in a quarter, and price in 3.5%. The forecast implies $2.8B/qrtr through YE27, or 20% of shares. Increase PT to $350."

You May Also Be Interested In

• Deutsche Bank Downgrades argenx SE (ARGX:BB) (ARGX) to Hold
• Freedom Broker Starts Citizens Inc. (CIA) at Buy
• Palo Alto Networks (PANW) PT Raised to $400 at Benchmark Ahead of Q4 Earnings