Analyst Actions: PBF Energy 2014 Ests and Target Raised $5 At Credit Suisse; Shares Drop 2%

By Staff,

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Analysts at Credit Suisse have raised their earnings estimates for PBF Energy Inc. ( PBF ), while also increasing the price target on the stock to $40 from $35 a share.

"Being aggressive on rail makes sense given near term wide spreads but even in the longer term, there could be sustainable advantage to buying undiluted bitumen at source. A key differentiator for PBF is the ownership of two cokers on the East coast," said Credit Suisse.

"In addition to rail, we believe PBF could be assertive in capturing Utica infrastructure projects. These would make sense in their own right but also to drop into an MLP structure should PBF go down that route."

The firm has raised their 2014 EPS estimates on PBF to $4.78 from $4.63.

Shares of PBF are down 2% to $38.38 in afternoon trading, amid a 52-week range of $25.88 - $40.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: PBF

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