Goldman Sachs analyst Neil Mehta raised the firm’s price target on Marathon Petroleum (MPC) to $291 from $264 and keeps a Buy rating on the shares. The firm’s outlook remains constructive on the company’s consistent execution, strong balance sheet, and attractive capital return profile supported by Midstream distributions, with additional upside expected from tighter PADD 5 market conditions and higher jet prices, alongside potential strategic updates on the El Paso yield improvement project and increased jet production at Garyville, the analyst tells investors in a research note.
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