Jefferies Starts Marathon Petroleum (MPC) at Buy, MPLX LP (MPLX) at Hold

August 23, 2016 7:24 AM EDT
Get Alerts MPC Hot Sheet
Price: $43.05 --0%

Rating Summary:
    19 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 9 | New: 8
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Jefferies initiates coverage on Marathon Petroleum (NYSE: MPC) with a Buy rating and a price target of $48 and MPLX LP (NYSE: MPLX) with a Hold and price target of $35.

Analyst Corey Goldman commented, "MPC boasts a diverse portfolio of premier midstream & downstream energy assets, including its controlling ownership in MPLX, a large-cap diversified MLP. While recent fundamental factors tethered to MPC's R&M segment prompted shares to underperform, we believe its diversified business model presents a favorable risk/reward skew. However, with limited NT catalysts, we view MPLX's valuation as full. Accordingly, we initiate Buy on MPC & Hold on MPLX."

For an analyst ratings summary and ratings history on Marathon Petroleum click here. For more ratings news on Marathon Petroleum click here.

Shares of Marathon Petroleum closed at $41.10 yesterday.

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