Murphy USA price target lowered to $395 from $405 at Wells Fargo

Wells Fargo analyst Anthony Bonadio lowered the firm’s price target on Murphy USA to $395 from $405 and keeps an Overweight rating on the shares. The firm sees a choppiness ahead for its traditionally defensive sector, given fundamental concerns and soft landing optimism. Selectivity seems key, Wells argues, saying it favors names best positioned to navigate the risky backdrop and those with idiosyncratic tailwinds.