Morgan Stanley raised the firm’s price target on Marathon Oil to $26 from $24 and keeps an Equal Weight rating on the shares. The energy sector is experiencing an improving macro backdrop, which has led to a catch-up trend experience in energy stocks, the analyst tells investors. With valuations still 2x the historic discount vs S&P, strong free-cash-flow yields, and positive earnings revisions, the firm sees a path to further outperformance.
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Read More on MRO:
- Marathon Oil call volume above normal and directionally bullish
- Marathon Oil price target lowered to $36 from $39 at Stifel
- Marathon Oil price target raised to $31 from $28 at Mizuho
- Marathon Oil Chairman Tillman sells $2.2M in company shares
- Marathon Oil upgraded to Buy at Argus on attractive valuation, ongoing buybacks
