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Phillips 66 Partners: Analysts Updated the Target Price

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Feb. 19 2019, Updated 11:09 a.m. ET

Rating updates

On February 11, Stifel cut its rating for Phillips 66 Partners (PSXP) from “buy” to “hold.” However, Stifel raised its target price for the stock from $50 to $52. On the same day, Credit Suisse cut its target price for Phillips 66 Partners from $61 to $59. Among the 12 analysts covering Phillips 66 Partners, one recommended a “strong buy,” five recommended a “buy,” and six recommended a “hold.”

The mean target price for Phillips 66 Partners is $56.3, which implies an upside potential of 12% from its current price of $50.1. The above graph shows how analysts’ recommendations for Phillips 66 Partners have changed over time. Only half of the analysts recommend Phillips 66 Partners as a “buy” or “strong buy” compared to 63% analysts a year ago.

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Peers’ ratings

On February 12, Mizuho started coverage on Enable Midstream Partners (ENBL) with a “neutral” rating. Mizuho has given a target price of $17 for Enable Midstream Partners. Among the 12 analysts covering Enable Midstream Partners, one recommended a “strong buy,” two recommended a “buy,” and nine recommended a “hold.”

The median target price of $17 implies an upside potential of 9% from Enable Midstream Partners’ current price.

Among the nine analysts covering Shell Midstream Partners (SHLX), one recommended a “strong buy,” two recommended a “buy,” five recommended a “hold,” and one recommended a “sell.” The median target price for Shell Midstream Partners is $22.

On February 15, Raymond James raised its target price for PBF Logistics (PBFX) by $1 to $25. On the same day, UBS raised its target price for the stock from $22 to $23.5. Among the six analysts covering PBF Logistics, one recommended a “strong buy,” three recommended a “buy,” and two recommended a “hold.”

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