UBS analyst Manav Gupta raised the price target on Marathon Petroleum (NYSE: MPC) to $321.00 (from $280.00) while maintaining a Buy rating.

The analyst commented, "We are adjusting our 2Q 26 EPS estimate to $14.49 vs. Street of $12.17 and prior UBSe of $10.98. We expect adjusted EBITDA of $6,966M vs. $2,763M in 1Q 26. We are modeling capex of $732M in 2Q 26. We are modeling buybacks of $1,750M in 2Q 26 (MPC could surprise to the upside). Higher refining margins driving positive revisions for 2026 / 2027."