Barclays analyst Theresa Chen lowered the firm’s price target on Phillips 66 (PSX) to $115 from $124 and keeps an Equal Weight rating on the shares. On top of a challenging refining macro environment, lower chemical margins made for a difficult quarter, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSX:
- Phillips 66 price target lowered to $147 from $156 at BofA
- Phillips 66 downgraded to Neutral from Overweight at Piper Sandler
- Phillips 66 Expands with $2.2 Billion EPIC Acquisition
- M&A News: Phillips 66 Enhances Permian Business with $2.2B Acquisition
- Phillips 66 to buy EPIC Y-Grade GP, EPIC Y-Grade LP for $2.2B