Murphy USA price target raised to $530 from $425 at Raymond James

Raymond James raised the firm’s price target on Murphy USA to $530 from $425 and keeps an Outperform rating on the shares ahead of the Q2 report. The company’s low-cost operating discipline, Walmart exposure, and strength in tobacco and alcohol sales continue to position it well for “strong results in a wide variety of economic environments,” the analyst tells investors in a research note. The firm believes Murphy’s food and beverage offerings are gaining traction.