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Refiners Phillips 66, Delek, Par Pacific cut at Mizuho after more than doubling YTD
Seeking Alpha ·
Seeking Alpha reports: Phillips 66 , Delek US , and Par Pacific traded higher Thursday, but Mizuho downgraded all three refiners to Neutral from Outperform with respective $300, $83, and $91 price targets, seeing limited upside potential after all three stocks more than doubled YTD. Phillips 66 has delivered top-tier operational results in its refining business with higher utilization, margin capture, and lower costs, but "that said, we find the current stock price embeds much of the…