JPMorgan Downgrades Phillips 66 Partners (PSXP) to Neutral

August 24, 2018 5:35 AM EDT
Get Alerts PSXP Hot Sheet
Price: $36.53 -3.36%

Rating Summary:
    7 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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JPMorgan analyst Jeremy Tonet downgraded Phillips 66 Partners (NYSE: PSXP) from Overweight to Neutral with a price target of $58.00 (from $61.00).

The analyst steps aside noting the company has the highest IDR burden and sees a reduced pace of drop-downs.

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

Shares of Phillips 66 Partners closed at $52.85 yesterday.

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