Phillips 66 (PSX) Price Target Raised to $300 by UBS

Phillips 66 (PSX) is nearing its all-time high, having nearly doubled in value since early 2026 due to high refining margins amid challenges in global refining capacity. UBS raised its price target for PSX from $235 to $300, indicating an upside of over 15% from current levels. The company's Executive Vice President reported a global shortfall of 7 million barrels per day in refined products, supporting high margins through Q3 2024 and potentially beyond. For investors, this increase in price target highlights the firm's confidence in continued strong performance and value creation for Phillips 66 shareholders.

Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.