Analysts have been eager to weigh in on the Materials sector with new ratings on Phillips 66 (PSX) and Dril-Quip (DRQ).
Phillips 66 (PSX)
Raymond James analyst Justin Jenkins maintained a Buy rating on Phillips 66 today and set a price target of $120.00. The company’s shares closed last Monday at $101.36.
According to TipRanks.com, Jenkins is a 5-star analyst with an average return of 5.6% and a 62.6% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Magellan Midstream, and Williams Co.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Phillips 66 with a $123.00 average price target, a 21.3% upside from current levels. In a report issued on September 25, Wells Fargo also maintained a Buy rating on the stock with a $132.00 price target.
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Dril-Quip (DRQ)
In a report released today, Connor Lynagh from Morgan Stanley maintained a Sell rating on Dril-Quip, with a price target of $42.00. The company’s shares closed last Monday at $48.07.
According to TipRanks.com, Lynagh ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.4% and a 21.2% success rate. Lynagh covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oil States International.
Currently, the analyst consensus on Dril-Quip is a Moderate Sell with an average price target of $46.33.
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