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  "documentTitle": "Phillips 66 (PSX)",
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  "presentationDate": "2025-02-11 00:00:00",
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      "text": "If Phillips is able to execute the “Marathon Path” (1) the stock price could increase to $300+",
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      "kind": "list",
      "text": "Streamline Portfolio: Sell or spin Midstream, sell CPChem interest, sell JET retail. Operating Review: Ambitious refining targets, EBITDA per barrel parity with VLO/MPC. Enhanced Oversight: Add independent directors, review management expertise.",
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      "text": "share price: $300+",
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      "text": "Source: Bloomberg. Note: Estimated potential upside based on indicative valuation calculations presented in the appendix. 1) Required assumptions for “Marathon Path” scenario can be found on slides 39 – 40.",
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      "text": "STREAMLINE 66",
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