Morgan Stanley Raises its Price Target on Phillips 66 (PSX) to $180

Morgan Stanley has raised its price target for Phillips 66 (NYSE:PSX) to $180 from $174, maintaining an Overweight rating following the company’s strong Q1 2026 earnings. The refinery’s adjusted EPS of 49c surpassed the consensus driven by better Refining margins and performance in Chemicals and Renewable Fuels. While acknowledging the potential of PSX, the report suggests that certain AI stocks may offer higher returns in a shorter timeframe.

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