Citi upgraded Marathon Oil to Buy from Neutral with a $27 price target. The analyst recommends investors "focus on catalysts and quality" within exploration and production. Capital efficiency should improve for domestic E&Ps on lower service rates, and Marathon offers catalysts given the re-frac opportunity in the Eagle Ford and improving international gas exposure, where Citi sees upside to the forward curve, the analyst tells investors in a research note. Marathon Oil is among Citi’s top picks in the sector.
Published first on TheFly
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