Wells Fargo raised the firm’s price target on Marathon Petroleum to $183 from $169 and keeps an Overweight rating on the shares. The firm notes Q4 meaningfully exceeded expectations, with margin capture well above the 100% target. After a relatively TAR-heavy Q1 2024, Wells sees the likelihood for this performance to continue.
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Read More on MPC:
- MPLX LP Reports Fourth-Quarter and Full-Year 2023 Financial Results
- Marathon Petroleum Corp. Reports Fourth-Quarter 2023 Results
- Marathon Petroleum Corp. Announces Quarterly Dividend
- Marathon Petroleum initiated with a Neutral at Citi
- Marathon Petroleum price target raised to $162 from $160 at Morgan Stanley
