finance.yahoo.com

Wells Fargo Raises Price Targets for Valero and Phillips 66

Wells Fargo logoWells Fargo
Sig1.20Sen+1.80Env0.00Soc0.00Gov0.00

US refining shares have surged on unusually high global refining margins amid capacity disruptions, while investors weigh whether the run has peaked. Wells Fargo takes a more constructive view of the refining environment and raised price targets for Valero Energy and Phillips 66 after the EPA granted large renewable fuel-credit exemptions for 2025.

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