Movement Alert|Valero Rises 3.34% in Regular Trading, Multiple Banks Raise Target Prices as Refining Sector Rallies

Market Focus
Yesterday

On October 1, Valero rose 3.34% in regular trading, trading at $401.22/share, with turnover of $166 million. The stock benefited from a fresh round of analyst upgrades and broad-based refining sector strength.

On the news front, TD Cowen raised its price target on Valero from $350 to $375, maintaining a Hold rating. This follows a wave of upward revisions in recent weeks: Goldman Sachs lifted its target to $457 from $365 with a Buy rating, UBS raised to $450 from $355, Piper Sandler to $435 from $329, and Morgan Stanley to $411 from $255. The consensus mean target now stands at $362 with an overweight average rating. The bullish sentiment is underpinned by Valero's Q2 adjusted EPS of $12.54, which significantly beat the $10.13 consensus estimate, while revenue surged to $44.48 billion versus the expected $39.47 billion.

The broader refining sector rallied in tandem, driven by tight global refining capacity and low product inventories supporting elevated crack spreads. Within the Oil and Gas Refining and Marketing sector, PBF Energy rose 4.43%, Marathon Petroleum gained 3.62%, HF Sinclair added 3.57%, Phillips 66 climbed 1.8%, and Delek US advanced 1.65%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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