Imperial Capital Raises PT on Marathon (MPC) to $79

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Imperial Capital today maintained an Outperform rating on Marathon Petroleum (NYSE: MPC) and raised its price target to $79.00 (from $64.00).

Analyst Ann Kohler said, "We are raising our one-year price target on MPC to $79 from $64, reflecting the inclusion of the pending acquisition of BP’s Texas City, Texas refinery and associated assets. We are maintaining our Outperform rating. MPC is expected to complete the transaction in early 2013, and we estimate that the assets will contribute an incremental $1.85/share and $1.2bn in EBITDA."

For an analyst ratings summary and ratings history on Marathon Petroleum (NYSE: MPC) click here. For more ratings news on Marathon Petroleum click here.

Shares of Marathon Petroleum closed at $67.11 yesterday, with a 52 week range of $33.66-$67.64.

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