Deutsche Bank Downgrades Marathon Petroleum (MPC) to Hold on Sandy "Frankenstorm"

November 9, 2012 10:32 AM EST Send to a Friend
Get Alerts MPC Hot Sheet
Price: $105.00 -1.91%

Rating Summary:
    16 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Deutsche Bank downgraded Marathon Petroleum (NYSE: MPC) from Buy to Hold with a price target of $60.00 (from $66.00).

The firm comments, "We are deeply concerned about weather and related shortage impacts on North East US oil markets, that comprise 27% of US oil demand and 6% of global oil demand. With PSX at our $50 price target, and badly affected by the Sandy "Frankenstorm", and MPC and DK likely negatively affected by market dynamics over the coming quarters, we are cutting to HOLD, leaving only HFC
as rated BUY in a stance on refining recently cut from over-weight to neutral,
now cut from neutral to underweight."

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 $54.31 yesterday.

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