Siebert Williams raised the firm’s price target on Marathon Oil to $29 from $27 and keeps a Hold rating on the shares. Heading into Q3 results for the Oil & Gas Exploration & Production group, the firm models EBITDA misses for about 84% of its coverage, noting that the natural gas names are expected to once again generate wider misses on average due to pricing. Consensus needs to recalibrate on several names due to typical timing, seasonality, pricing, as well as to incorporate recent acquisitions, the analyst tells investors in a preview note.
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