Jefferies Raises Phoenix Price Target by 120% to NIS 150, Keeps "Buy" Recommendation

Jefferies raised Phoenix Financial's price target by 120% to NIS 150, while maintaining a "Buy" recommendation. The new price target reflects a 27.3% premium on the company's current market price. Jefferies attributed the increase to IFRS 17 and the reduction in risk premium, driven by country and market factors. The investment bank also updated its forecasts, raising its earnings per share forecast by about 70%.

Phoenix Financial Ltd. has reduced its stake in Valero Energy Corporation by 11.0%, selling 3,302 shares during the first quarter and now holding 26,680 shares valued at $3,524,000 [1]. Valero Energy recently announced a quarterly dividend of $1.13 per share, translating to an annualized payout of $4.52 with a yield of 3.18% [1].

Meanwhile, Jefferies has significantly raised Phoenix Financial's price target for Valero Energy from NIS 150 to NIS 150, a 120% increase. Jefferies maintained a "Buy" recommendation, attributing the hike to the International Financial Reporting Standard 17 (IFRS 17) and a reduction in risk premium driven by country and market factors [2]. The new price target reflects a 27.3% premium on the company's current market price. Additionally, Jefferies updated its earnings per share forecast, raising it by about 70%.

Valero Energy's stock has been the subject of various analyst upgrades and downgrades. Morgan Stanley, for instance, raised its target price on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating [1]. Meanwhile, Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and boosted its target price for the company from $134.00 to $150.00 [1].

Institutional investors and hedge funds have also been actively trading Valero Energy shares. Ameriprise Financial Inc., Geode Capital Management LLC, Norges Bank, Franklin Resources Inc., and Northern Trust Corp have all increased their stakes in the company [1]. As of the latest data, 78.69% of Valero Energy's stock is owned by institutional investors and hedge funds [1].

Valero Energy recently reported earnings, posting $2.28 EPS for the quarter, beating the consensus estimate of $1.66 by $0.62 [1]. The company's revenue for the quarter was $29.89 billion, down 13.3% year-over-year. Analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year [1].

The firm also announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be paid a $1.13 dividend, representing a $4.52 annualized dividend and a 3.18% yield [1].

References:
[1] https://www.marketbeat.com/instant-alerts/filing-phoenix-financial-ltd-decreases-stock-position-in-valero-energy-corporation-nysevlo-2025-07-26/
[2] Jefferies Research Report (July 2, 2025)