Murphy USA price target raised to $465 from $425 at Jefferies

Jefferies raised the firm’s price target on Murphy USA to $465 from $425 and keeps a Buy rating on the shares after the company reported better-than-expected fuel and adjusted EBITDA margins and provided “strong” 2024 guidance. The firm view this quarterly report as “a proof point on our recent bull thesis and buy recommendation,” the analyst tells investors.