Marathon Petroleum price target raised to $198 from $183 at TD Cowen

TD Cowen analyst Jason Gabelman raised the firm’s price target on Marathon Petroleum (MPC) to $198 from $183 and keeps a Buy rating on the shares. The firm updated its model as earnings beat on refining gross margin that was in-line with historical capture. 1Q26 throughput and opex will be impacted by turnarounds, though ops should improve thereafter with turnaround spend guided loweryear-over-year and future declines thereafter, while margins should benefit from seasonality.