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Stock Market & Financial Investment News

News Breaks
August 19, 2014
17:34 EDTPBFPBF Energy announces $200M share repurchase program
PBF Energy announced that its board of directors has authorized the repurchase of up to $200M of PBF Class A common stock. This repurchase authorization expires on September 30, 2016. “Returning capital to our shareholders is fundamental to creating value and enhancing shareholder returns,” said PBF Energy CEO Tom Nimbley. “Today’s announcement reaffirms this ongoing commitment to our shareholders.”
News For PBF From The Last 14 Days
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March 25, 2015
09:19 EDTPBFRefining sector price targets raised at Morgan Stanley
Morgan Stanley believes the market is underestimating US downstream earnings power. The firm expects US refining to re-rate, driven by relative valuations, secular tailwinds, and focus on shareholder returns. Morgan Stanley raised price targets on Valero (VLO) to $90 from $70, Tesoro (TSO) to $120 from $92, Phillips 66 (PSX) to $105 from $95, Western Refining (WNR) to $63 from $52, Delek US (DK) to $48 from $45, Marathon Petroleum (MPC) to $145 from $120, and PBF Energy (PBF) to $45 from $35.

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