Goldman Sachs raised the firm’s price target on Phillips 66 (PSX) to $127 from $124 and keeps a Neutral rating on the shares. After the pullback in the stock over the past month, the firm sees improved risk-reward, though it continues to monitor for refining execution and is also more cautious around the path towards the company’s 2027 mid-cycle EBITDA target, the analyst tells investors in a research note.
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