Raymond James raised its PSX price target to $300 from $240, maintaining Outperform. The stock trades 64% above GF Value, with mixed insider activity.
Raymond James maintained its Outperform rating on Phillips 66 (PSX) and raised its price target to $300 from $240 on Sept. 14, a 25% increase.
The new target implies roughly 17% upside from the stock's recent price near $255. The analyst's call came as the energy sector continues to post strong refining margins, though Phillips 66 trades well above where GuruFocus measures its intrinsic value.
GuruFocus assigns PSX a GF Value of $156.03, meaning the stock is about 64% overvalued relative to that model. The trailing P/E of 14.57 sits above the five-year median of 12.35, and the company's GF Score of 61 reflects solid profitability and financial stability, with a low growth rank.
Insider activity over the past three months shows $23.7 million in selling, while 16 gurus hold the stock: six added to their positions in recent quarters and seven trimmed. The mixed institutional sentiment contrasts with the bullish analyst stance.
Phillips 66's midstream assets, including 70,000 miles of pipeline and a 2.0-million-barrel-per-day refining network, support the profitability pillar of its GF Score, but the overvaluation leaves little safety margin if earnings slow.
A full breakdown is on the PSX stock page.
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