The Investor
30 Sep 2026, 19:17
Phillips 66 Stock Rises 2.9% as Goldman Sachs and TD Cowen Raise Price Targets
Phillips 66 shares rose 2.9% after two firms raised their price targets on the refining and energy company.
Goldman Sachs increased its target to $274 from $245 while maintaining a Neutral rating. TD Cowen raised its target more aggressively to $295 from $255 and kept a Buy rating. The stock was trading around $259.48.
The higher targets point to improving expectations around Phillips 66’s earnings power and valuation. More broadly, stronger refining margins, disciplined capital returns, midstream cash flows and the company’s ongoing portfolio optimization are probable factors supporting a more constructive outlook.
TD Cowen’s $295 target implies more upside from current levels than Goldman Sachs’ $274 target, while the differing ratings show that analysts remain split on how much of the favorable operating backdrop is already reflected in the share price.
The stock’s 2.9% gain suggests investors welcomed the upward revisions in valuation expectations.
Phillips 66 shares rose 2.9% after two firms raised their price targets on the refining and energy company.
Goldman Sachs increased its target to $274 from $245 while maintaining a Neutral rating. TD Cowen raised its target more aggressively to $295 from $255 and kept a Buy rating. The stock was trading around $259.48.
The higher targets point to improving expectations around Phillips 66’s earnings power and valuation. More broadly, stronger refining margins, disciplined capital returns, midstream cash flows and the company’s ongoing portfolio optimization are probable factors supporting a more constructive outlook.
TD Cowen’s $295 target implies more upside from current levels than Goldman Sachs’ $274 target, while the differing ratings show that analysts remain split on how much of the favorable operating backdrop is already reflected in the share price.
The stock’s 2.9% gain suggests investors welcomed the upward revisions in valuation expectations.
