Cowen Upgrades Marathon Petroleum (MPC) to Outperform

Cowen analyst Jason Gabelman upgraded Marathon Petroleum (NYSE: MPC) from Market Perform to Outperform with a price target of $43.00 (from $37.00).

The analyst comments "The market is underappreciating the capitalization improvement as a result of the Speedway sale. There is upside agnostic to refining margins beyond the sale from closing the opex gap to peers. Also, there are potentially accretive opportunities for corporate restructuring that should improve resiliency in a bearish refining margin environment."

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 $37.87 yesterday.

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