PBF Energy Shares Soar 1.14% on 30% Crack Rise, UBS Upgrade

PBF Energy (PBF) shares surged 1.14% today, marking the sixth consecutive day of gains, with a cumulative increase of 19.10% over the past six days. The stock price reached its highest level since February 2025, with an intraday gain of 2.23%.

PBF Energy's recent stock price movements have been influenced by several key factors. The company experienced a significant rise in benchmark cracks by approximately 30% quarter-over-quarter, indicating potential improvement in refining results. This increase in benchmark cracks suggests that PBF Energy's refining operations may be becoming more profitable, which could attract investors and drive up the stock price.

Additionally, brokerage ratings and price targets have played a role in shaping investor sentiment towards PBF Energy. UBS Group upgraded the company's rating from "neutral" to "buy" and raised the target price from $20.00 to $26.00. This upgrade reflects a more optimistic outlook on the company's future performance and could encourage investors to buy more shares. However, Citi analyst Vikram Bagri lowered their price target for PBF Energy to $29.00 from $32.00, which may have tempered some of the enthusiasm surrounding the stock.

Technical indicators also provide insight into PBF Energy's stock price movements. The company's shares crossed above their 200-day moving average of $25.17, reaching as high as $25.25 per share. This technical milestone suggests that the stock may be entering a period of sustained growth, as it has broken through a key resistance level. Investors often view such technical indicators as a sign of bullish momentum, which could further drive up the stock price.