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.
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