Goldman Sachs downgrades Par Pacific to Neutral and lifts price target to $94
Goldman Sachs changed its rating on Par Pacific Holdings Inc. (NYSE:PARR) from Buy to Neutral and increased its price target from $90 to $94. The downgrade was driven by a more balanced risk‑reward outlook after key growth catalysts have been priced in and by concerns over freight‑rate pressure on refining margins. Following the note, Par Pacific’s shares fell about 6% in trading.
Why it matters
The downgrade signals a less bullish view from a major sell‑side analyst, which can weigh on the stock’s price in the short term. Goldman Sachs also raised its earnings estimates, but highlighted freight‑cost headwinds that could limit margin improvement.
Key facts
- 1Goldman Sachs lowered its rating on Par Pacific to Neutral from Buy. marketscreener.com
- 2Goldman Sachs raised its price target for Par Pacific to $94, up from $90. investing.com
- 3Par Pacific’s share price dropped roughly 6% after the downgrade. seekingalpha.com
- 4The analyst cited that many of the company’s growth catalysts have already been priced in. investing.com
- 5Freight‑rate headwinds were noted as a potential downside to refining margin realizations. investing.com
- 6Par Pacific’s stock was trading at $83.16 at the time of the downgrade. gurufocus.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.