Deutsche Bank Downgrades Marathon Petroleum (MPC) to Hold; Less Upside Potential with Narrowing Brent-WTI Spread

Deutsche Bank downgraded Marathon Petroleum (NYSE: MPC) from Buy to Hold.

Deutsche analyst said, "With narrowing Brent-WTI spread in the next few months, increased refining capacity in the Gulf Coast by end of 2Q12, still sluggish demand and resulting lower Gulf Coast cracks, we cut our price target estimates across the board for the refiners. We now see less upside potential in MPC price target and downgrade it to Hold. HollyFrontier (NYSE: HFC) remains our only Buy, with no Gulf Coast exposure, presence in more insulated markets like the Rockies, and potential buybacks and dividend distribution due to its defensive balance sheet."

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 $41.62 yesterday.

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