Jefferies Cuts Refiners; Meta Gets Big Target Lift

Jefferies made the boldest calls today. The bank downgraded both MPC and VLO to Hold from Buy. Analyst Lloyd Byrne set price targets of $413 and $401 respectively. Marathon carries a $113B market cap. The dual cut signals Jefferies sees limited upside in US refining as margins compress.

META got the day's most bullish call. Jefferies analyst Brent Thill raised his price target to $875 from $710 — a $165 jump. The stock sits at a $1.63 trillion market cap. Short interest is just 1.3% of free float. Bears have little presence here.

WST earned the only upgrade of the session. West Pharmaceutical Services moved up in consensus, with average analyst targets rising to $407. The pharma packaging firm has a $25B market cap. Short interest is low at 3.1% of free float.

TYL saw a sharp target cut. Tyler Technologies' consensus target dropped to $22 from $427 — an apparent data anomaly worth watching. The govtech software firm retains a strong Buy skew with 19 Buy ratings.

Homebuilders DHI and NVR both saw modest target trims. Analysts remain broadly bullish on the sector despite the cuts.