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Murphy Oil (MUR) begins to get a few downgrades based on valuation after yesterday's 8% bump and...
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Wednesday, October 17, 2012, 9:02 AM ETMurphy Oil (MUR) begins to get a few downgrades based on valuation after yesterday's 8% bump and 26% rise in the past three months. Barclays reduces shares to Equal Weight, believing an outright sale is unlikely until the retail spin is complete, which is six to nine months away. The firm expects the rally to cool until more clarity arrives on management's strategy on asset divestitures.
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