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Raymond James raises PT on refiners on strong margins

ReutersSep 9, 2025 5:12 PM

** Brokerage Raymond James raises price target on several U.S. refiners to reflect improving margins

** Raymond James says September has "started out strong," showing the strongest refining margins of the third quarter on a month-to-date basis

** "While the capture rates may retreat from higher levels of the second quarter, higher benchmark indicators imply earnings upside," brokerage adds

Brokerage changes PT on the following companies:

Company

New PT

Old PT

Upside/downside to last close

Delek US Holding DK.N

$33

$26

9.2%

HF Sinclair DINO.N

$60

$57

17.4%

Marathon Petroleum MPC.N

$199

$195

9.8%

Par Pacific PARR.N

$38

$36

13.4%

Phillips 66 PSX.N

$145

$142

11.3%

Valero Energy VLO.N

$177

$170

12.7%

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