Broker recommendations for Phillips 66 Partners
Following the release of its 3Q2014 earnings report, Wall Street analysts reviewed Phillips 66 Partners’ (PSXP) performance. Based on this review, the analysts issued recommendations and target prices for the company, which you can see in the chart below.
PSXP is a subsidiary of Phillips 66 (PSX), which is a component of the Energy Select Sector SPDR Fund (XLE) and the Vanguard Energy ETF (VDE). PSXP is a component of the Global X MLP & Energy Infrastructure ETF (MLPX)
Howard Weil rated the company “sector outperform” and pinned the 12-month target price at $81.
JPMorgan (JPM) rated the company “overweight” and pinned the 12-month target price at $81 and one-year returns at 74.1%.
Barclays (BCS) gave the stock an “equalweight” rating and set the 12-month target price at $72.
RBC Capital, on the other hand, gave PSXP an “outperform” rating and pinned the 12-month target price at $76 and one-year returns at 74.1%. Credit Suisse rated the company as “neutral,” pinned the 12-month target at $70 and set one-year returns at 26.2%.
Overall, ~62.5% of the analysts have rated the stock “hold,” and 37.5% have rated it “buy.” Plus, according to these ratings, PSXP’s one-year consensus mean price target is $74.10. This target price is ~20% higher than the ~$62 share price close as of January 14, 2015.