Scotiabank has revised its price target for Phillips 66 (PSX, Financial), adjusting it downward to $133 from the previous $136. Despite this reduction, the firm maintains an Outperform rating on the stock. This change comes as part of a broader reassessment of ratings within the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production (E&P) sector.
The decision to revise the price target reflects the bank's strategic update on its investment outlook in the sector. Phillips 66 continues to be seen favorably, indicating confidence in the company’s ability to perform well despite the updated valuation. Investors are being informed of these new assessments as part of Scotiabank's regular sector analysis.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Phillips 66 (PSX, Financial) is $135.21 with a high estimate of $162.00 and a low estimate of $106.00. The average target implies an upside of 39.41% from the current price of $96.99. More detailed estimate data can be found on the Phillips 66 (PSX) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Phillips 66's (PSX, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Phillips 66 (PSX, Financial) in one year is $110.43, suggesting a upside of 13.86% from the current price of $96.99. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Phillips 66 (PSX) Summary page.
