Jefferies Starts Phillips 66 (PSX) and Phillips 66 Partners (PSXP) at Hold
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Analyst Corey Goldman commented, "PSX boasts a premiere portfolio of diversified energy assets that straddle both midstream & downstream functions, including its controlling ownership position in PSXP, a high-growth logistics-oriented MLP. While robust expansion opportunities & ownership support from Berkshire Hathaway are reasons to be constructive, we believe shares of both securities present a balanced risk/ reward profile at current levels; we initiate with Hold ratings."
Shares of Phillips 66 closed at $76.97 yesterday.
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