Marathon Petroleum price target raised to $270 from $210 at Raymond James

Raymond James raised the firm’s price target on Marathon Petroleum (MPC) to $270 from $210 and keeps an Outperform rating on the shares. Consensus estimates for Q1 may have risen sharply due to oil market and Middle East conflict-driven margin spikes, but short-term refiners may struggle to fully capture these “spiky” margins, the analyst tells investors in a research note. Looking to Q2 and beyond, forward strip margins suggest considerably higher earnings potential, with medium-term upside likely to dominate market focus as elevated refining margins persist well after the conflict subsides, the firm says.