Goldman Sachs Starts Phillips 66 (PSX) at Neutral

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Goldman Sachs initiates coverage on Phillips 66 (NYSE: PSX) with a Neutral. PT $39.00.

The firm views the company's exposure to midstream and chemicals assets as favorably differentiating it from other diversified refiners. However, the lack of controlling interest could keep the company from getting full credit.

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 $32.49 yesterday, with a 52 week range of $28.75-$34.10.

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