Citi analyst Vikram Bagri raised the firm’s price target on Marathon Petroleum (MPC) to $182 from $144 and keeps a Neutral rating on the shares. The firm update models in the refiners space ahead of the Q2 reports. The sector now trades at a premium due to the above-average margin environment, but there is downside risks to crack spreads in the medium term, the analyst tells investors in a research note.
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Read More on MPC:
- Marathon Petroleum downgraded to Outperform from Strong Buy at Raymond James
- Marathon Petroleum downgraded to Peer Perform from Outperform at Wolfe Research
- Marathon Petroleum price target raised to $180 from $147 at Scotiabank
- Marathon Petroleum price target raised to $189 from $159 at Barclays
- Marathon Petroleum price target raised to $203 from $175 at UBS