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Marathon Petroleum price target raised to $153 from $111 at Piper Sandler
The Fly

Marathon Petroleum price target raised to $153 from $111 at Piper Sandler

Piper Sandler analyst Ryan Todd raised the firm’s price target on Marathon Petroleum to $153 from $111 and keeps a Neutral rating on the shares. Despite investor concerns of a "one off" uplift to refining margins in 2022, recent earnings results from the independent refiners and "persistent systemic tightness have made it abundantly clear that global tightness in refined product markets is likely to persist for quite some time," Todd tells investors in a research note. The analyst increased his 2023 outlook for refining margins to within 10% of 2022 margins.

Published first on TheFly

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