MPLX price target raised by $1 at Barclays, here’s why

Barclays analyst Theresa Chen raised the firm’s price target on MPLX to $39 from $38 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.