Murphy USA downgraded to Hold from Buy at Jefferies

Jefferies downgraded Murphy USA (MUSA) to Hold from Buy with a price target of $350, down from $560, following the Q2 report. The company’s lower customer volumes and cut to its annual EBITDA growth outlook from 6%-7% to below 5% will limit upside to the shares, the analyst tells investors in a research note. The firm says that while Murphy’s fuel margins remain elevated, softer in-store trends and a more cautious growth outlook warrant a downgrade.