PBF Energy: Play the Crack-Spread Tailwind While It Lasts
PBF Energy looks like a directional, mid-term long: the company is a domestic refiner with leverage to widening crack spreads driven by disruptions in the Strait of Hormuz. The balance sheet is intact, valuation is reasonable on EV/EBITDA, and the stock has room to re-test its recent 52-week high. Trade plan below with entry, stop and target — cali…