Deutsche Bank Starts PBF Energy (PBF) at Hold

Deutsche Bank initiated coverage on PBF Energy (NYSE: PBF) with a Hold rating.

Analyst Ryan Todd said, "PBF is relatively well positioned within PADD I, with advantaged access to US light (Bakken) and Canadian heavy volumes, and better complexity than its peers. Despite significant recent improvements to PBF's crude slate, we see few incremental drivers from here in 2015, with long-term structural challenges (relative cost of crude sourcing, potentially exposed gasoline market) a likely headwind to performance, and limited visibility on potential organic growth at the MLP."

For an analyst ratings summary and ratings history on PBF Energy click here. For more ratings news on PBF Energy click here.

Shares of PBF Energy closed at $23.86 yesterday.

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