Wells Fargo downgraded Marathon Petroleum (MPC) to Equal Weight from Overweight with a price target of $135, down from $153. The firm raises "the caution flag" on the refining sector. Rapidly contracting diesel/jet cracks restrict the potential for near-term outperformance, Wells says. The firm also downgraded Valero (VLO) to Equal Weight on Tuesday.
Published first on TheFly
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