Marathon Oil price target raised to $48 from $37 at Raymond James

Raymond James analyst John Freeman raised the firm’s price target on Marathon Oil to $48 from $37 and keeps a Strong Buy rating on the shares. Marathon posted strong Q3 results, with production out of the Delaware exceeding expectations and "impressive" buybacks, Freeman tells investors in a research note. Marathon remains in an excellent position to be a leader in shareholder returns, the analyst adds.