Piper Sandler analyst Ryan Todd raised the firm’s price target on Phillips 66 (PSX) to $177 from $168 and keeps a Neutral rating on the shares. The firm updates its estimates for Phillips based on a combination of their recent trading statement, quarter-end mark-to-market on commodity pricing, as well as modest adjustments to operating assumptions. Piper continues to see tailwinds to 2026 earnings and remains bullish on the outlook for the U.S. refiners.
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