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Phillips 66 (PSX) Stock Rating Downgraded at Credit Suisse

NEW YORK (TheStreet) -- Phillips 66 (PSX - Get Report) stock was downgraded to "neutral" from "outperform" at Credit Suisse on Monday. The firm set a price target of $105 on the stock.

Last week, the Houston-based energy company reported 2015 third quarter earnings of $2.90 per share, higher than analysts' expectations of $2.24 per share.

Phillips 66 is one of the best positioned U.S. refinery companies due to its exposure to growth in the natural gas and chemicals business, Credit Suisse said.

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