Morgan Stanley Downgrades Marathon Oil to Equal-Weight, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Devin McDermott has downgraded Marathon Oil (NYSE:MRO) from Overweight to Equal-Weight and reduced the price target from $27 to $25.
December 11, 2023 | 11:54 am
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Marathon Oil's stock may face downward pressure after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered the price target from $27 to $25.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. The reduction in price target further reinforces the expectation of a lower valuation.
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