Analyst Raises Price Target on Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) is included among the 11 Best Energy Stocks to Buy for Dividends in 2026.

Analyst Raises Price Target on Phillips 66 (PSX)

Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that is engaged in refining, transporting, and marketing fuels.

Phillips 66 (NYSE:PSX) received a boost on January 16 when Scotiabank analyst Paul Cheng raised the firm’s price target on the stock from $133 to $140, while maintaining a ‘Sector Perform’ rating on the shares. The revision comes as the firm adjusted its price targets for the US Integrated Oil, Refining, and Large Cap E&P stocks under its coverage. The analyst expects earnings for the quarter to be straightforward, as there were no major weather disruptions this winter.

On the other hand, JPMorgan lowered its price target on Phillips 66 (NYSE:PSX) from $154 to $151 on January 13, but the firm kept its ‘Overweight’ rating on the shares. The updates come as the analyst firm adjusted its targets for recent commodity prices as part of a preview for the fourth quarter.

With a robust annual dividend yield of 3.47%, Phillips 66 (NYSE:PSX) was recently included in our list of the Best Energy Stocks for a Retirement Stock Portfolio.

While we acknowledge the potential of PSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PSX and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.