JPMorgan lowered the firm’s price target on Marathon Petroleum to $172 from $186 and keeps a Neutral rating on the shares. The firm marked to market its Q3 crack assumptions for the refining group. Additionally, it updated 2025 estimates and established year-end 2025 price targets virus 2024 previously. The analyst is cautious on the group over the near term, saying the U.S. and global industry continue to run higher utilizations than demand calls for.
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Read More on MPC:
- Marathon Petroleum price target lowered to $145 from $168 at Piper Sandler
- Marathon Petroleum price target lowered to $182 from $196 at Morgan Stanley
- Marathon Petroleum price target lowered to $193 from $198 at Mizuho
- Marathon Petroleum price target lowered to $189 from $213 at UBS
- Marathon Petroleum put volume heavy and directionally bearish
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