FedEx, PepsiCo downgraded: Wall Street's top analyst calls
Piper Sandler downgraded Valero (VLO) to Neutral from Overweight with a price target of $123, down from $169. The combination of incremental refined product capacity and weaker than expected demand have led Piper to adjust its 2025 refined product outlook, where it now expects global supply/demand balances to be roughly flat with 2024.