Jefferies Cuts Refiners, Upgrades Drug Packaging

Jefferies made two notable moves in the energy refining space today. The bank downgraded both MPC and VLO from Buy to Hold. Both stocks carry market caps above $118 billion.

The refiner cuts signal a sector-wide concern. Jefferies analyst Lloyd Byrne set a $413 target on Marathon Petroleum and $401 on Valero. Refining margins have come under pressure as crude spreads tighten.

Away from energy, WST — West Pharmaceutical Services — received a rare upgrade. The consensus moved upward, with analysts lifting the average target price to $407.56. The $25 billion drug packaging and delivery specialist had been under pressure. Fewer analysts hold a neutral view now versus before the change.

META also drew attention. Jefferies analyst Brent Thill raised his target to $875 from $710. That is a $165 jump. Meta remains one of the most covered Buy-rated names on Wall Street, with 56 analysts bullish.

TYL — Tyler Technologies — saw a sharp average target revision. The consensus figure dropped to $22.32 from $426.64, a data anomaly worth monitoring.

GEV — GE Vernova — continued to attract upward target price revisions, with the consensus average ticking up to nearly $1,239.