Marathon Oil price target raised to $36 from $33 at RBC Capital

RBC Capital raised the firm’s price target on Marathon Oil (MRO) to $36 from $33 and keeps an Outperform rating on the shares. The company’s Q2 production was coming off seasonal lows and could be modestly ahead of the management’s prior commentary, though given Marathon’s announced acquisition by ConocoPhillips (COP), the firm is not expecting a conference call or a detailed update, the analyst tells investors in a research note.