Soleil Securities Maintains a 'Hold' on Marathon Oil (MRO); Lowers PT & Estimates
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Soleil Securities maintains a 'Hold' on Marathon Oil (NYSE: MRO), lowers price target from $40 to $35.
Soleil analyst says, "We are lowering our earnings estimates for Marathon for 2009 (from $2.00/share to $1.95/share) and 2010 (from $3.85/share to $3.65/share) due primarily to the decline in NYMEX forward curve price assumptions for crude oil, natural gas and refining margins...We maintain our Hold rating, but are reducing our discounted free cash flow derived price target from $40/share to $35/share...Additionally, we re-iterate our Overweight rating on the integrated oil sector, which, based upon 2010E EV/EBITDA, is trading at a substantial discount (4.1x) to the average of the stocks in the XNG Index (6.5x) and OSX Index (7.2x), based upon First Call data."
To see more analyst ratings on MRO Click Here.
Marathon Oil Corporation, through its subsidiaries, engages in the exploration, refining, marketing, and transportation of liquid hydrocarbons, natural gas, and other petroleum products worldwide.
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