Murphy USA price target raised to $385 from $330 at Wells Fargo

Wells Fargo raised the firm’s price target on Murphy USA to $385 from $330 and keeps an Overweight rating on the shares. The firm’s 2023 Consumer Conference and management meetings in LA with Murphy USA left Wells incrementally constructive on the fuel margin outlook, the company’s positioning against the current backdrop, an eventual unit growth acceleration, and distant terminal value concerns.