Par Pacific Receives Upgrade from Piper Sandler
A recent research note from Piper Sandler has sparked optimism around Par Pacific (PARR), as the firm upgraded the company’s rating to Overweight from Neutral. This decision was accompanied by a revised price target of $25, up from the previous $23.
Diversified Businesses Provide Stability
According to the analyst, Par Pacific’s non-refining businesses offer a significant layer of protection against the current low-margin environment. This diversified approach provides a solid foundation for the company, making it an attractive investment opportunity.
Upside Potential Ahead
Piper Sandler believes that Par Pacific shares have the largest potential upside to mid-cycle valuations, making them a compelling choice for investors. With the company’s unique blend of businesses, it’s well-positioned to capitalize on future growth opportunities.
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Recent Developments and Analyst Sentiment
Par Pacific has been in the spotlight recently, with the company announcing its FY25 CapEx guidance of $210M-$240M. Meanwhile, other analysts have taken a more cautious approach, with Mizuho downgrading the company to Neutral from Outperform and JPMorgan lowering its price target to $27 from $28.
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