B of A Securities Downgrades Marathon Petroleum to Neutral, Raises Price Target to $162
Portfolio Pulse from richadhand@benzinga.com
B of A Securities analyst Doug Leggate has downgraded Marathon Petroleum (NYSE:MPC) from Buy to Neutral, while raising the price target from $159 to $162.
August 15, 2023 | 12:13 pm
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NEUTRAL IMPACT
Marathon Petroleum has been downgraded from Buy to Neutral by B of A Securities, but the price target has been raised from $159 to $162.
The downgrade from Buy to Neutral indicates a less optimistic outlook for the company's stock, which could potentially lead to a decrease in demand and thus a decrease in the stock price. However, the increase in the price target from $159 to $162 suggests that the analyst still sees potential for the stock's price to increase, which could counteract the potential negative impact of the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100