Credit Suisse Downgrades Marathon Oil (MRO) to Neutral
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Credit Suisse downgraded Marathon Oil (NYSE: MRO) from Outperform to Neutral with a price target of $19.00, citing better risk/reward elsewhere.
Analyst Edward Westlake commented, "In conjunction with our quarterly large cap E&P Deep Dive, we have taken MRO shares down to Neutral. MRO has done an excellent job of increasing the resource base, mainly in Oklahoma, and lowering well costs, and has become more assertive on its completions. The STACK continues to get better – indeed MRO increased the type curve for the STACK by more than 35% last week. However, when we look across the large cap E&P space, and the leading edge well performance relative to our modeling assumptions we continue to see more momentum in the purer play Permian names."
Shares of Marathon Oil closed at $15.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Downgrades Chipotle Mexican Grill (CMG) to Neutral; 'New Normal'
- Needham & Company Cuts Price target Following Mobile Mini's (MINI) Weak 3Q
- Mizuho Securities Downgrades Under Armour, Inc. (UA) to Neutral Citing Structural Margin Challenges
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!