Seeking Alpha

Marathon Petroleum +4.6% on Deutsche Bank upgrade

  • Marathon Petroleum (MPC +4.6%) is upgraded to Buy from Hold with a $108 price target, up from $80, at Deutsche Bank going into its analyst day, citing favorable exposure to discounted crudes, strong product export portfolio, operational excellence, and best-in-class logistics system.
  • MPC is acquisitive, a potential bidder for Hess' major retail network, and the market could fret about excess spending in the event it overpays.
  • Simmons also upgraded MPC and Alon USA Energy (ALJ +2.8%).
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