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Fly News Breaks for July 13, 2016
MPC, VLO, TSO, PSX
Jul 13, 2016 | 05:07 EDT
Barclays analyst Paul Cheng downgraded Phillips 66 (PSX) to Equal Weight saying he sees limited upside from current share levels. The analyst sees greater upside to large-cap peers Tesoro (TSO), Valero (VLO) and Marathon Petroleum (MPC) when refining margins start to rebound. He lowered his price target for Phillips 66 to $86 from $93.