BUZZ — JP Morgan raises PT on Phillips 66 citing stronger refining margins

* JP Morgan raises price target on refiner Phillips 66 to $275 from $234 * The new PT represents an downside of 2.3% to stock's last close * Brokerage expects PSX's refining business to remain the main quarter earnings driver, supported by tight global product markets and continued geopolitical and freight-related disruptions * "We believe PSX's integrated footprint merits a premium valuation multiple," - Brokerage * 11 out of 21 brokerages rate the stock "buy", 9 "hold" and one "sell"; their median PT is $279 - data compiled * As of last close, PSX 118.1% YTD (Dharna Bafna in Bengaluru) ((dharna.bafna@thomsonreuters.com)