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PSX - Phillips 66 Has Doubled But It Is Not Overvalued
Phillips 66
About three months ago, I wrote an article in which I stated that Phillips 66 (PSX) could double over the next 12 months. Since then, the stock has doubled. When a cyclical stock enjoys such a steep rally, it is usually time to take profits. However, in this article, I will discuss why Phillips 66 is not overvalued.
First of all, when I wrote the article, I did not expect the stock to double in less than three months. However, it is impossible to predict how long it will take to an investing thesis to