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  "documentTitle": "Phillips 66 (PSX)",
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      "text": "Here Elliott sees Midstream assets as potentially worth ~$50B... Citi Research, February 13, 2025",
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      "text": "We agree with Elliott's assessment that there is more upside potential in the refining business... J.P. Morgan, April 8, 2025",
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      "text": "Despite the noise, expect that Elliott's pressure to execute on these targets will be a strong positive for the stock. Piper Sandler, November 29, 2023",
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      "text": "Where we agree with Elliott that PSX is undervalued... Wolfe Research, April 25, 2025",
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      "text": "We prefer a spin, or large selldown of non synergistic assets... Bank of America, April 25, 2025",
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      "text": "We suspect Elliott's updated position will result in PSX having to find additional ways to close the refining performance gap... T.D. Cowen, February 12, 2025",
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      "text": "We think PSX's 1Q25 results will have a mixed impact... Scotiabank, April 25, 2025",
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      "text": "We agree with Elliott’s assessment that there is more upside potential in the refining business, on both capture and on opex, and we think Elliott’s presence itself could refocus management towards this business. — J.P. Morgan, April 8, 2025",
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      "text": "SELLSIDE COMMENTARY ON ELLIOTT'S INVOLVEMENT",
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