Phillips 66 (PSX) Upgraded by Morgan Stanley on Refining Margins

AI Summary

Morgan Stanley has upgraded Phillips 66 (PSX) based on improving refining margins. This upgrade reflects anticipated gains in the company's profitability, influenced by rising demand for refined products. The upgrade may positively affect investor sentiment and trading volumes for PSX shares in the market. As refining margins strengthen, Phillips 66 could see an increase in earnings expectations.