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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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