Goldman Sachs Upgrades Marathon Oil, Sees It Positioned for Strong Free Cash Flow Growth and Returns to Shareholders
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst Neil Mehta has upgraded Marathon Oil Corp (NYSE:MRO) from Sell to Neutral with a $25 price target. The upgrade is based on the potential for strong free cash flow growth and returns to shareholders. MRO is expected to generate strong free cash flow over the next 3-4 years, supported by stable production profile, and uplift from Equatorial Guinea driven by exposure to international gas pricing. MRO shares traded higher by 1.73% at $24.75 on the last check Wednesday.
July 12, 2023 | 5:29 pm
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Goldman Sachs has upgraded Marathon Oil Corp (NYSE:MRO) from Sell to Neutral with a $25 price target. The upgrade is based on the potential for strong free cash flow growth and returns to shareholders.
The upgrade by Goldman Sachs is based on the potential for strong free cash flow growth and returns to shareholders. This is likely to have a positive impact on the stock price in the short term. The company's shares already traded higher by 1.73% at $24.75 on the last check Wednesday.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100