Wells Fargo raised the firm’s price target on Marathon Petroleum (MPC) to $182 from $180 and keeps an Overweight rating on the shares. Given seasonality and persistently narrow crude differentials, the firm continues to favor the large refiners over the smid-caps. Wells is adjusting its EPS estimates across its refining coverage on its updated forecasts and capture assumptions.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MPC:
- Marathon Petroleum price target raised to $168 from $146 at BofA
- 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