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Analyst Actions: PBF Energy Coverage Initiated With Outperform, $35 PT at Credit Suisse; Shares Up 2%
By: MT Newswires
Analysts at Credit Suisse have initiated coverage of PBF Energy Inc. ( PBF ) with an Outperform rating and a price target of $35 a share.
"The U.S. Refiner Peers are all trading at a discount to theoretical DCF value, which could provide additional upside to equity holders over time as investors appreciate the sustainability of their cost advantages," said Credit Suisse. "PBF shares appear cheaper than the average refiner and offer a 2.8% dividend yield."
Shares of PBF are up 1.9% to $29.05, amid a 52-week range of $26.00 - $29.97.