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Fly News Breaks for September 5, 2019
PSX
Sep 5, 2019 | 06:30 EDT
Macquarie analyst Jay Tobin started Phillips 66 with an Outperform rating and $115 price target. The analyst believes the company's "diverse and advantaged" asset base is attractively priced at current share levels. He sees "multiple hidden gems" across Phillips 66's asset base and believes its high return of capital will provide support when oil pulls back.
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