In a report released today, Joe Laetsch from Morgan Stanley maintained a Buy rating on Marathon Petroleum, with a price target of $200.00.
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Joe Laetsch has given his Buy rating due to a combination of factors that highlight Marathon Petroleum’s potential for growth. The company’s refining segment, despite facing challenges such as lower throughput and softer capture rates, is expected to perform well with a projected EBITDA that aligns closely with historical seasonal levels. This is supported by the company’s strategic management of planned turnarounds and maintenance activities.
Additionally, the midstream segment is anticipated to benefit from recent acquisitions and increased volumes, contributing to a positive EBITDA outlook. Although the renewable diesel segment faces industry margin pressures, Marathon Petroleum’s focus on optimization is expected to yield a modest improvement in EBITDA. These factors collectively underpin the Buy rating, reflecting confidence in the company’s strategic initiatives and operational resilience.
Laetsch covers the Energy sector, focusing on stocks such as Phillips 66, PBF Energy, and Delek US Holdings. According to TipRanks, Laetsch has an average return of 0.5% and a 61.29% success rate on recommended stocks.
In another report released yesterday, Scotiabank also maintained a Buy rating on the stock with a $189.00 price target.