Wells Fargo analyst Roger Read initiated coverage of Marathon Oil with an Overweight rating and $41 price target, identifying it as a "top pick for the sector" given its execution, inventory, cash returns and share repurchases. The firm, which estimates Marathon will have retired 20% of its outstanding common shares compared with pre-pandemic levels by the end of Q1, notes that its 2023 EPS estimate is 10% above the current consensus forecast.
Published first on TheFly
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