Benchmark analyst Subash Chandra has reiterated a Buy rating on Marathon Oil Corporation (MRO), but lowered the price target to $28 from $32 due to declining commodity prices. The analyst expects MRO to generate solid FCF in Q2 2023, with strong production in Delaware. However, the EPS estimate for Q2 has been reduced to $0.44 from $0.55, and the EBITDA forecast has been lowered to $942 million from $978 million due to unfavorable commodity prices. Equity income from Equatorial Guinea is expected to be lower than guidance due to declining oil and LNG prices. MRO shares are currently trading lower by 3.6% to $24.20.