Marathon Oil Hits The Ground Running: Analyst Boosts Forecast Amid Strong Reserve Report
Portfolio Pulse from Shivani Kumaresan
Benchmark analyst Subash Chandra upgraded Marathon Oil Corp (NYSE:MRO) with a Buy rating and raised the price target from $25 to $32, citing a strong reserve report indicating a lower cost structure, resilient asset base, and high FCF yields at $80 oil. The report highlighted positive performance revisions, an oilier reserve mix, and efficient capital expenditure towards main assets. MRO's shares rose 3.08% to $25.91.
March 13, 2024 | 5:41 pm
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POSITIVE IMPACT
Marathon Oil Corp's strong reserve report and upgraded price target by Benchmark analyst Subash Chandra signal a positive outlook, with shares already up 3.08% to $25.91.
The upgrade and raised price target by the analyst are based on Marathon Oil's strong reserve report, indicating a lower cost structure and resilient asset base. This positive analyst outlook, combined with the immediate positive reaction in the stock price, suggests a likely short-term upward trend for MRO shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100