Valero Energy (VLO) PT Raised to $467 at UBS Into Q3 Earnings

UBS analyst Manav Gupta raised the price target on Valero Energy (NYSE: VLO) to $467.00 (from $450.00) while maintaining a Buy rating.

The analyst commented, "We are adjusting our 3Q26 EPS estimate to $20.00 ($14.16. prior) vs. Street of $18.34. Positive refining is driving the majority of revisions vs. our prior expectations. We are modeling buybacks of $3,300M for the quarter (VLO could surprise to the upside). As more Venezuelan crude enters the market, it should be a major positive for VLO. We are making minor adjustments to 2027 / 2028E earnings...Looking ahead, we believe the global market is likely to view the U.S. as a more reliable and strategically important source of refined products, supporting sustained investor interest in the sector and VLO in particular. For 3Q26, we expect all 4 regions to deliver higher QoQ earnings. This would be a new quarterly earnings record for VLO, beating prior high of $12.62 in 2Q26."

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