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Investing.com - Wells Fargo (NYSE:WFC) has raised its price target on PBF Energy (NYSE:PBF) to $24.00 from $21.00 while maintaining an Equal Weight rating on the stock. The company, currently trading at $26.97 with a market capitalization of $3.14 billion, offers a dividend yield of 4.08%. According to InvestingPro analysis, the stock appears to be trading below its Fair Value.
The adjustment reflects changes to the firm’s second-quarter 2025 earnings per share estimates, which were revised downward primarily due to lower refining margins in the East Coast and West Coast regions, along with higher refining operating expenses across most regions except the Gulf Coast.
Wells Fargo’s revised Q2 2025 EPS estimate now stands at ($1.01), down from a previous estimate of ($0.34), while the full-year 2025 EPS forecast has been lowered to ($5.75) from ($4.83).
The new price target represents a 30% discount to Wells Fargo’s sum-of-the-parts analysis based on 2026 estimated EBITDA by segment, an improvement from the previous 40% discount applied.
The firm expects PBF Energy’s upcoming earnings call on July 31 to include updates on the Martinez facility progress, with investors likely focusing on restart timing currently guided for approximately Q4 2025, along with discussions on fuel demand, crude availability, and free cash flow generation. For deeper insights into PBF Energy’s financial health and additional ProTips, visit InvestingPro.
In other recent news, PBF Energy has been the subject of several notable developments. UBS has reiterated its Buy rating on PBF Energy, maintaining a price target of $26.00. This decision is supported by anticipated improvements in cash flow and operational efficiencies, alongside the company’s involvement in a significant data center development project. Starwood Digital Ventures, in partnership with New Castle Campus Development LLC, plans to develop a massive data center campus on land associated with PBF Energy. Meanwhile, Mizuho (NYSE:MFG) has maintained its Underperform rating on PBF Energy, projecting a substantial earnings miss for the second quarter of 2025, despite some positive trends in the refining segment. Moody’s has downgraded PBF’s Corporate Family Rating to Ba3, citing increased debt and financial leverage concerns. UBS analysts have also upgraded PBF Energy’s stock rating from Neutral to Buy, raising the price target from $20.00 to $26.00, due to improved refining fundamentals. PBF Energy is expecting to receive $250 million in insurance proceeds and plans to liquidate 2 million barrels of inventory in the second quarter of 2025. Additionally, PBF Logistics (NYSE:PBFX), associated with PBF Energy, is set to sell two terminal facilities for $175 million, with the transaction expected to conclude later this year.
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