UBS Downgrades Marathon Oil to Neutral, Lowers Price Target to $28
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Josh Silverstein downgraded Marathon Oil (MRO) from Buy to Neutral and reduced the price target from $34 to $28, indicating a more cautious outlook on the company's stock.
December 14, 2023 | 3:47 pm
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Marathon Oil's stock rating was downgraded by UBS from Buy to Neutral, and the price target was cut from $34 to $28, suggesting a tempered growth expectation.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic view on the company's future performance. The reduction in price target further implies that the expected upside for the stock is now lower than previously estimated.
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