What To Know About Piper Sandler's Downgrade of PBF Energy

Piper Sandler downgraded its rating of PBF Energy PBF to Neutral with a price target of $50.00, changing its price target from $65.00 to $50.00.

Shares of PBF Energy are trading down 2.52% over the last 24 hours, at $40.96 per share.

A move to $50.00 would account for a 22.07% increase from the current share price.

About PBF Energy

PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. The company owns refineries in Delaware, Ohio, New Jersey, California, and Louisiana. The Company operates in two reportable business segments: Refining and Logistics. The Company's oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products and are aggregated into the Refining segment. PBFX operates logistics assets such as crude oil and refined products terminals, pipelines and storage facilities. The Logistics segment consists solely of PBFX's operations.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.