Analysts’ Opinions Are Mixed on These Materials Stocks: Phillips 66 (PSX) and Magellan Midstream (MMP)


Analysts have been eager to weigh in on the Materials sector with new ratings on Phillips 66 (PSX) and Magellan Midstream (MMP).

Phillips 66 (PSX)

In a report released today, Brad Heffern from RBC Capital upgraded Phillips 66 to Buy, with a price target of $67.00. The company’s shares closed last Friday at $52.32, close to its 52-week low of $40.05.

According to TipRanks.com, Heffern is a 1-star analyst with an average return of -4.1% and a 39.7% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.

Currently, the analyst consensus on Phillips 66 is a Strong Buy with an average price target of $89.50, which is a 71.1% upside from current levels. In a report issued on March 16, Morgan Stanley also upgraded the stock to Buy with a $68.00 price target.

See today’s analyst top recommended stocks >>

Magellan Midstream (MMP)

In a report released today, Gabe Moreen from Mizuho Securities maintained a Hold rating on Magellan Midstream, with a price target of $43.00. The company’s shares closed last Friday at $33.61.

According to TipRanks.com, Moreen ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.2% and a 48.4% success rate. Moreen covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners, Phillips 66 Partners, and EnLink Midstream.

Currently, the analyst consensus on Magellan Midstream is a Moderate Buy with an average price target of $51.37, representing a 52.8% upside. In a report issued on March 16, Morgan Stanley also upgraded the stock to Hold with a C$55.00 price target.

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