BofA analyst Jean Ann Salisbury raised the firm’s price target on Phillips 66 (PSX) to $144 from $126 and keeps a Buy rating on the shares. The firm, which refreshed its refiners estimates and notes it is below consensus for 2025 and 2026 EBITDA, points out that its price objectives for the “Majors” Chevron, ExxonMobil, and Occidental are “little changed,” but adds that it revised up its targets for refiners, as they no longer embed a worse case recessionary environment.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSX:
- Phillips 66’s Strategic Uncertainty and Operational Challenges Justify Hold Rating
- Phillips 66 CEO: Boardroom shakeup is best outcome for both parties
- Phillips 66 Announces Preliminary Board Election Results
- Phillips 66 Stock (PSX) Sinks as Activist Investor Snags Board Seats
- Phillips 66 says two Elliott nominees expected to be elected
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue