Raymond James analyst Justin Jenkins raised the firm’s price target on Phillips 66 (PSX) to $142 from $135 and keeps an Outperform rating on the shares. Phillips 66 is a best-in-class, diversified business with a secure balance sheet that has weathered the storm, and its refining exposure should improve into 2026, while margins in the Chemicals could rebound, the analyst tells investors in a research note.
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