Mizuho analyst Nitin Kumar raised the firm’s price target on Phillips 66 to $118 from $106 and keeps a Neutral rating on the shares. The analyst updated estimates ahead of the Q2 earnings for U.S. refiners. In addition to lower cracks, weakness in secondary products and narrower heavy crude differentials were key headwinds to capture rates, 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>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PSX:
- Phillips 66 price target raised to $130 from $127 at Piper Sandler
- 5 Best Oil Stocks to Invest in Now, According to Analysts – June 2023
- TipRanks ‘Perfect 10’ List: There’s an Opportunity Brewing in These 3 Top-Rated Stocks
- 5 Best Value Stocks to Invest in Now, According to Analysts – June 2023
- This Energy ETF Has Nearly 30% Upside Potential, According to Analysts
