On September 16, Phillips 66 rose 3.12% in regular trading, trading at $265.47/share, with turnover of $276 million. The rally was driven by a wave of target price upgrades from major Wall Street firms.

Raymond James raised its target price from $240 to $300, maintaining an Outperform rating. Morgan Stanley significantly lifted its target from $196 to $284, keeping an Overweight rating. UBS raised its target from $235 to $300, maintaining a Buy rating. Wells Fargo set the highest target at $335, up from $239. The FactSet consensus average target has now climbed to approximately $249. The upgrades reflect strong fundamentals, including a Q2 adjusted EPS of $9.41 that beat the $7.44 consensus by over 26%, robust refining margins of $24.08 per barrel, accelerated share buybacks backed by a new $10 billion authorization, and the $5 billion Western Gateway Pipeline joint venture with Kinder Morgan and HF Sinclair. The broader Oil and Gas Refining and Marketing sector traded higher in tandem, with PBF Energy up 6.32%, Delek US up 4.26%, and HF Sinclair up 3.97%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)