A Closer Look at 5 Analyst Recommendations For Phillips 66
Portfolio Pulse from Benzinga Insights
Five analysts have recently updated their ratings on Phillips 66 (NYSE:PSX), with a shift towards a more bullish outlook. The average 12-month price target for PSX has been raised to $153.2, reflecting a 6.98% increase from the previous target of $143.20. Analysts from firms including Piper Sandler, Barclays, Wells Fargo, and Raymond James have raised their price targets, indicating a positive sentiment towards the company's performance. Despite a -4.99% decline in revenue growth for the last quarter of 2023 and the closure of the Rodeo, California refinery, Phillips 66's financial indicators such as net margin, ROE, and ROA remain strong, surpassing industry benchmarks.
March 08, 2024 | 4:00 pm
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Phillips 66 has seen a positive shift in analyst sentiment, with an increased average price target of $153.2. Despite a recent revenue decline, the company's financial health remains strong, indicated by superior net margin, ROE, and ROA.
The increase in the average price target by analysts suggests a bullish outlook for PSX, likely due to its strong financial indicators such as net margin, ROE, and ROA, which outperform industry benchmarks. Despite the revenue decline, the company's financial health and the analysts' positive adjustments in their ratings and price targets could lead to a short-term positive impact on PSX's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100