Goldman Sachs Upgrades Par Pacific and Delek US on Strong Earnings Outlook

Apr 10, 2026 19:36 UTC

PARR, DK

Short term

Goldman Sachs has raised its rating for refiners Par Pacific and Delek US to Buy. The move follows positive earnings revisions and a constructive outlook on company fundamentals.

Par Pacific (PARR) upgraded from Neutral to Buy
Delek US Holdings (DK) upgraded from Neutral to Buy
PARR price target set at $77
DK price target set at $55
Upgrades attributed to compelling positive earnings revisions

Goldman Sachs has upgraded the investment ratings for Par Pacific (PARR) and Delek US Holdings (DK) from Neutral to Buy, sparking an immediate positive reaction in Friday's trading session. The upgrades are driven by what the investment bank describes as "compelling" positive revisions to earnings estimates. Analysts highlighted strong underlying fundamentals as a primary driver for the rating shift, maintaining a constructive view on the refining sector's current trajectory. In terms of valuation, Goldman Sachs established a price target of $77 for Par Pacific and $55 for Delek US Holdings. These targets reflect the bank's confidence in the companies' ability to outperform previous expectations. Market reaction was swift following the announcement. Par Pacific shares climbed 4.8%, while Delek US Holdings saw a more modest increase of 1.2%. The upgrades suggest a bullish outlook for these specific refining operations as they navigate current market conditions.