UPDATE: Dahlman Rose Initiates PBF Energy at Buy on Valuation, Unique Crude Positioning

Dahlman Rose initiated coverage on PBF Energy (NYSE: PBF ) with a Buy rating and a $40.00 price target. Dahlman Rose said, "Against a near-term backdrop of demand concerns and product weakness, PBF is positioned both as a levered play on mid-con differentials and as a value story around crude