Morgan Stanley raised Marathon Petroleum's price target to $265, near its 52-week high of $272.46, reflecting confidence in refining margin strength. The stock has gained 2.44% over the past month, was upgraded to Zacks Rank #1 and is forecast to deliver $10.84 EPS and $143.04 billion in revenue.
Morgan Stanley increased the price target from $233 to $265 when shares traded near $260.81, placing the new target close to the 52-week high of $272.46 and signaling confidence in the company’s refining operations.
The stock has advanced 2.44% over the last month and 38% over six months, outperforming the Oils-Energy sector’s 0.59% decline, and was added to Zacks Rank #1 (Strong Buy) list.
Analysts forecast earnings per share of $10.84 for a 173.74% increase year-over-year and project full-year revenue of $143.04 billion, driven by robust refining margins.
With a market capitalization around $76.14 billion, Marathon Petroleum competes with Valero Energy and Murphy USA as a leading U.S. petroleum refiner and marketer.
