Marathon Petroleum (MPC) PT Lowered to $60 at JPMorgan, Following Reports of Speedway Sale Collapse

JPMorgan analyst Phil Gresh lowered the price target on Marathon Petroleum (NYSE: MPC) to $60.00 (from $66.00) while maintaining a Neutral rating.

As a reminder, Nikkei Asian Review reported today that Japan's retail giant Seven & i Holdings has dropped its plan to acquire the Speedway gas station chain in the U.S. for about $22 billion. Speedway, a division of U.S. petroleum refiner Marathon Petroleum (NYSE: MPC) operates about 4,000 gas stations in the country that are paired with convenience stores.

For further information, please see: https://asia.nikkei.com/Business/Business-deals/7-Eleven-operator-drops-22bn-bid-for-Speedway-gas-stations

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