Jefferies Starts Marathon Petroleum (MPC) at Buy, MPLX LP (MPLX) at Hold
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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."
Shares of Marathon Petroleum closed at $41.10 yesterday.
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