tiprankstipranks
The Fly

Marathon Petroleum price target lowered to $183 from $196 at Wells Fargo

Marathon Petroleum price target lowered to $183 from $196 at Wells Fargo

Wells Fargo lowered the firm’s price target on Marathon Petroleum to $183 from $196 and keeps an Overweight rating on the shares. The analyst believes cracks have bottomed, diesel demand is improving, lower prices and payrolls support gasoline demand and refined product inventories are below normal. Rising OPEC+ production in 2025 should widen crude diffs favoring coastal refiners, the analyst tells investors in a research note. Wells thinks Western Hemisphere refining capacity expansions are limited as planned closures in 2025 offset gains from recent startups and biofuel expansions.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Questions or Comments about the article? Write to editor@tipranks.com