Raymond James lifts PTs on US refiners as Mideast disruptions boost margins
25/03/2026 13:45
** Raymond James raises price targets for several U.S. refiners ** Says disruptions from the Middle East conflict have changed the refining market to a great degree ** "Disruption impacts will persist after the conflict ends, and we expect refining margins to remain elevated for a considerable period," brokerage says ** Adds very high-margin indicators are likely to drive extremely strong earnings over the next couple of quarters, and even beyond that ** Says "spiky" margins could be tough for refiners to fully capture in the short-term ** While the short-term backdrop is tricky in our view, we still like the long-run outlook, particularly given the long-lasting disruptions - Raymond James Brokerage raises PTs for the following companies:
| Companies | Old PT | New PT | Upside to the stock's last close |
| HF Sinclair DINO.N | $66 | $75 | 22.07% |
| Marathon Petroleum MPC.N | $210 | $270 | 10.7% |
| Phillips 66 PSX.N | $175 | $205 | 11.3% |
| Valero Energy VLO.N | $215 | $290 | ~20% |
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