Barclays raised the firm’s price target on Marathon Petroleum to $163 from $155 and keeps an Overweight rating on the shares. As a result of the seasonal headwinds on gasoline margins, the firm expects refiners to remain in max distillate mode. The analyst says colder-than-normal temperatures through the remainder of this winter would pull on diesel supply and tighten global balances further.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MPC:
- Elliott seeks Phillips 66 board seats, sees 75% share upside
- U.S. regulators say Gulf oil spill to impact several producers, Reuters says
- Marathon Petroleum price target lowered to $166 from $168 at BofA
- Options Volatility and Implied Earnings Moves Today, October 31, 2023
- MPLX LP Reports Third-Quarter 2023 Financial Results