07:05 AM EDT, 08/05/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target price to USD23 (from USD20), based on a 2025 P/E of 8.3x, which reflects 0.5 SD below the 10-year average of 14.4x. Our EPS forecasts are unchanged given that H1 2025 came in within our expectations, albeit higher than consensus. The above-market performance stems from a strong 70% sequential surge in Q2 2025 RC profit to USD2.4B, propelled by lower effective tax rate of 36% (vs. 50% in Q1 2025), stronger realized refining margins, a stronger Customers result, and a strong oil trading result, partly offset by lower liquids and gas price realizations and a significantly higher level of refinery turnaround activity. We maintain our Sell rating given the stock's positive correlation of 60% to Brent crude oil price movements over the past five years amid expectations of further declines in oil prices against the backdrop of unraveling OPEC production quota cuts and a U.S. tariff regime that could catalyze slower global economic growth prospects.