Marathon Oil (MRO -3.8%) is upgraded to Buy with a $40 target price (up from $35) at Global...

|About: Marathon Oil Corporation (MRO)|By:, SA News Editor

Marathon Oil (MRO -3.8%) is upgraded to Buy with a $40 target price (up from $35) at Global Hunter after soundly beating Q3 production guidance. Eagle Ford is running at 60K boe/day, with 85K targeted for 2013; Bakken is running at 30K boe/day, with 33K planned for next year. Annual capex for 2012-13 is still seen at $5B-$5.5B, welcome given the increase in production guidance, the firm writes.