Murphy USA price target raised to $440 from $395 at Wells Fargo

Wells Fargo raised the firm’s price target on Murphy USA to $440 from $395 and keeps an Overweight rating on the shares. Murphy USA had a solid Q4 beat, above-consensus guidance, and arguably the best data point yet supporting fuel margin expansion in 2024 that were more than enough to clear tempered expectations, the analyst tells investors in a research note.