Morgan Stanley Rates Phillips 66 (PSX) buy, $196 Price Target
Morgan Stanley analyst Erin Wright reaffirms a buy rating for Phillips 66 and raises the price target to $196, a 15.98% upside from the current price.
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Morgan Stanley rated Phillips 66 ($PSX) "buy" with a $196 price target on June 12, 2026.
Since the rating, $PSX is down 6.2% after 1 week, up 10.5% after 1 month and up 64.2% to date (from the $178.50 close on Jun 12, 2026).
PSX
Phillips 66
Key Points
- On June 12, 2026, Morgan Stanley reiterated its buy rating for Phillips 66, setting a price target of $196, reflecting confidence in the company's future performance.
- The stock is currently priced at $169, significantly below its 52-week high of $277.12, presenting a potential upside for investors.
- Phillips 66 has a P/E ratio of 14.95 and is scheduled to report its next earnings on October 28, 2026.
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Morgan Stanley's Latest Rating on Phillips 66
On June 12, 2026, Morgan Stanley analyst Erin Wright reiterated a buy rating for Phillips 66 (NYSE: PSX) with a price target of $196. This target was raised from a prior estimate of $196. The stock is currently trading at $169.0, which is well below its peak of $277.12 over the past year.
Why the Buy Rating Matters
Morgan Stanley's reaffirmation of the buy rating indicates a strong belief in the company's growth potential. The recent price target suggests optimism regarding Phillips 66's future performance in the energy sector. The stock's current price presents a notable opportunity for investors, given the previous high, and indicates room for growth moving forward.
Analysts Set New Price Targets
Other firms have also maintained their perspectives on Phillips 66. Wells Fargo upheld its Overweight rating on October 14, 2026, raising its price target to $345, while Citigroup maintained a Neutral rating with a target of $297 on October 13, 2026. Barclays also kept an Equal-Weight rating, adjusting its target to $282 on October 12, 2026. Evercore ISI Group maintained an Outperform rating with a target of $250, also on October 12, 2026. These ratings collectively illustrate a range of opinions on the stock, highlighting its relevance in the energy market.
Stock Performance Overview
Phillips 66 shares are trading at $169, which is currently significantly lower than its 200-day moving average of about $178.78. The stock's performance has seen fluctuations around its 52-week low of $126.74 and high of $277.12, reflecting the volatility in the energy sector.
$PSX price target
Phillips 66 daily closes and this analyst's $196 target. Not advice.
Recent Earnings
In its most recent earnings report, Phillips 66 reported a revenue of approximately $152.17 billion, with a net margin of about 4.66%. The company's earnings per share (EPS) stood at $17.51. Investors will be keen to see how these figures evolve in the upcoming earnings report scheduled for October 28, 2026.
Company Background
Phillips 66 is a major player in the energy sector, involved in refining and marketing petroleum products across various regions. Its diverse operations include segments such as Midstream, Chemicals, and Renewable Fuels, positioning it well in the evolving energy landscape.
What's Ahead for Phillips 66
As noted, Phillips 66 is set to announce its next earnings report on October 28, 2026. The upcoming results will provide further insight into its financial health and operational performance. The recent analyst ratings from Morgan Stanley and others suggest ongoing interest and confidence in the company, making it one to watch as market dynamics continue to shift.
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Source: Morgan Stanley's rating change on $PSX (Jun 12, 2026). Written by software, not financial advice. How we make alerts