Cowen raised its price target on Marathon Petroleum (NYSE: MPC) to $98.00 (from $90.00) while maintaining a Outperform rating.

Analyst Sam Margolin comments "We are positive on the MPC/ANDV merger, and we believe the logic of the deal is to enhance operating leverage into a strong fundamental current, as opposed to adding value on the spreadsheet today. Value creation dependent on synergy realization with upside in IMO 2020 scenario."