BofA raised the firm’s price target on Marathon Petroleum (MPC) to $168 from $146 and keeps a Neutral rating on the shares. The firm, which refreshed its refiners estimates and notes it is below consensus for 2025 and 2026 EBITDA, points out that its price objectives for the “Majors” Chevron, ExxonMobil, and Occidental are “little changed,” but adds that it revised up its targets for refiners, as they no longer embed a worse case recessionary environment.
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Read More on MPC:
- Marathon Petroleum price target raised to $180 from $175 at Wells Fargo
- Marathon Petroleum price target raised to $184 from $168 at Mizuho
- Marathon Petroleum price target raised to $159 from $141 at Barclays
- Cautious Outlook for Marathon Petroleum Amid Strategic Investments and Market Challenges
- Marathon Petroleum’s Strong Q1 Performance and Strategic Management Justify Buy Rating and Raised Price Target
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