Why Marathon Oil Stands Out: Analyst Points To Untapped Potential In Equatorial Guinea And Robust FCF Estimates
Portfolio Pulse from Shivani Kumaresan
Raymond James analyst John Freeman reiterated a Strong Buy rating on Marathon Oil Corp (NYSE:MRO) and raised the price target from $40 to $45. MRO exceeded 2Q estimates due to stronger liquids production and is expected to maintain strong growth due to its aggressive buyback program. The company's untapped potential in Equatorial Guinea and robust FCF estimates for 2024 also contribute to its positive outlook.
September 14, 2023 | 6:19 pm
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POSITIVE IMPACT
Marathon Oil Corp's stock is expected to perform well due to strong 2Q results, an aggressive buyback program, and untapped potential in Equatorial Guinea. The price target has been raised from $40 to $45 by Raymond James analyst.
The news is directly related to Marathon Oil Corp and is positive. The company exceeded 2Q estimates, has an aggressive buyback program, and untapped potential in Equatorial Guinea. These factors contribute to the Strong Buy rating and increased price target, which are likely to positively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100