Dahlman Rose Starts Marathon Petroleum (MPC) at Buy; Effectively Utilizing the Benefits of Scale
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Price: $355.42 -0.27%
Rating Summary:
17 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dahlman Rose initiates coverage on Marathon Petroleum (NYSE: MPC) with a Buy. PT $55.00.
Dahlman analyst says, "We continue to view scale as a significant competitive advantage in the refining industry, affording a more aggressive and focused CAPEX program during peak period s in the cycle. As the second-largest US independent refiner, with US crude throughput capacity of ~1.1 mb/d, advantages of scale are evident in the company's Detroit upgrade project, which includes the installation of several new conversion units and crude capacity expansion to add 80 kb/d of incremental heavy crude processing capacity. The total cost of the project, ex-capitalized interest, is $2.2Bn, beyond the spending range of smaller peers."
For more ratings news on Marathon Petroleum click here and for the rating history of Marathon Petroleum click here.
Shares of Marathon Petroleum closed at $40.57 yesterday.
Dahlman analyst says, "We continue to view scale as a significant competitive advantage in the refining industry, affording a more aggressive and focused CAPEX program during peak period s in the cycle. As the second-largest US independent refiner, with US crude throughput capacity of ~1.1 mb/d, advantages of scale are evident in the company's Detroit upgrade project, which includes the installation of several new conversion units and crude capacity expansion to add 80 kb/d of incremental heavy crude processing capacity. The total cost of the project, ex-capitalized interest, is $2.2Bn, beyond the spending range of smaller peers."
For more ratings news on Marathon Petroleum click here and for the rating history of Marathon Petroleum click here.
Shares of Marathon Petroleum closed at $40.57 yesterday.
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