Jefferies Starts Phillips 66 (PSX) and Phillips 66 Partners (PSXP) at Hold

August 23, 2016 7:37 AM EDT
Get Alerts PSX Hot Sheet
Price: $84.28 +1.19%

Rating Summary:
    7 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
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Jefferies initiates coverage on Phillips 66 (NYSE: PSX) with a Hold rating and a price target of $72 and Phillips 66 Partners (NYSE: PSXP) with a Hold and $54 price target.

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."

For an analyst ratings summary and ratings history on Phillips 66 click here. For more ratings news on Phillips 66 click here.

Shares of Phillips 66 closed at $76.97 yesterday.

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