PBF Energy Inc. (NYSE:PBF) is included among the 12 Best American Oil Stocks to Buy Now.
PBF Energy Inc. (NYSE:PBF) engages in the refining and supplying of petroleum products. It operates through two segments, Refining and Logistics.
On June 12, Morgan Stanley analyst Joe Laetsch raised the firm’s price target on PBF Energy Inc. (NYSE:PBF) from $34 to $38, but maintained its ‘Underweight’ rating on the shares.
The move comes after Morgan Stanley revised its refiner price recommendations and updated its estimates for the latest strip prices through the next year. The firm noted that while refining margins have pulled back from their peak earlier in mid-May, they still remain high compared to their pre-war levels.
The analyst firm believes that even if the waterway of Hormuz remains reopened, crack spreads are likely to remain supported by tight fuel inventories and stable demand trends.
After suffering a massive fire in 2026, PBF Energy Inc. (NYSE:PBF)’s Martinez refinery has now returned to full capacity. The 157,000 bpd dual-coking facility has now positioned the company to enter a cash-harvesting phase after an extended period of elevated maintenance spending.
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