Fri Sep 20 12:15:55 UTC 2024: ## Valero Energy Downgraded by Piper Sandler, Stock Price Drops
**San Antonio, TX – September 20, 2024** – Valero Energy (NYSE:VLO), a major oil and gas company, saw its stock price decline following a downgrade by Piper Sandler from “overweight” to “neutral.” The investment firm also lowered its price target for VLO from $169.00 to $123.00, potentially signaling a 11.30% drop in the company’s stock value.
This move comes amidst a mixed bag of analyst opinions on the company. While Scotiabank raised their target price on VLO to $173.00 and maintained a “sector outperform” rating, StockNews.com downgraded the stock to a “hold” rating. Other analysts, including JPMorgan Chase & Co. and Wells Fargo & Company, have also adjusted their price targets and ratings in recent months.
Despite the downgrade, VLO’s recent quarterly earnings report provided some positive news. The company reported $2.71 earnings per share, exceeding analyst expectations by $0.11, and generated $34.49 billion in revenue. However, the quarterly revenue was down slightly compared to the previous year.
Institutional investors remain interested in VLO, with several firms making new investments in the company’s stock. However, it remains to be seen whether the recent downgrade from Piper Sandler will have a significant impact on VLO’s future performance.
**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice.
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