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Assessing Phillips 66 (PSX) Valuation After Western Gateway Pipeline Progress News
Phillips 66 (PSX) is in focus after announcing progress on the Western Gateway refined products pipeline, backed by long-term shipper commitments and targeting a mid-2029 in-service date. Despite recent share price cooling over 30 days, the stock has seen strong year-to-date and 12-month returns, with analysis suggesting it is 40.6% undervalued with a fair value of $268.71. Investors are encouraged to consider the intrinsic discount and potential risks associated with the project and refined product demand.