- Elliott Management pushes for strategic changes at Phillips 66 (PSX, Financial), including asset divestment and board expertise enhancement.
- Analysts predict an average upside of over 31% for PSX, with their one-year target price estimates.
- Phillips 66 holds an "Outperform" recommendation from brokerage firms, reflecting favorable market sentiment.
Elliott Management has escalated its involvement with Phillips 66 (PSX), a leading player in the energy sector. By advocating for significant changes in asset divestment, refining operations, and corporate governance, Elliott aims to align the company's strategic direction with shareholder interests. The firm has also proposed adding four directors to Phillips 66's board, including former ConocoPhillips executives, to bolster expertise in refining and midstream operations, positioning the company for enhanced performance.
Wall Street Analysts Forecast
According to projections from 16 analysts, the average price target for Phillips 66 (PSX, Financial) is set at $140.65. This estimation encompasses a high of $162.00 and a low of $124.43. Notably, this average target suggests a potential upside of 31.23% compared to the current trading price of $107.18. For more comprehensive forecast data, please visit the Phillips 66 (PSX) Forecast page.
Additionally, based on the combined insights of 20 brokerage firms, Phillips 66 has received an average brokerage recommendation of 2.2, indicative of an "Outperform" status. This ranking sits on a scale from 1 to 5, where a score of 1 represents a Strong Buy and 5 signifies a Sell.
In terms of valuation, GuruFocus' GF Value for Phillips 66 (PSX, Financial) forecasts a one-year estimate of $110.44, indicating a modest upside potential of 3.04% from its current share price of $107.18. The GF Value represents GuruFocus' fair value estimate, derived from the company's historical trading multiples, past growth metrics, and future performance projections. Further insights are available on the Phillips 66 (PSX) Summary page.
