Oppenheimer raises its target price for Marathon Petroleum (MPC +1.4%) shares to $55 from $42 to...

|About: Marathon Petroleum Corp. (MPC)|By:, SA News Editor

Oppenheimer raises its target price for Marathon Petroleum (MPC +1.4%) shares to $55 from $42 to reflect the refiner's announced $2B buyback and evaluation of an MLP for its Midstream assets, two factors that could boost its valuation. Completion of MPC's Detroit heavy oil project this year should reduce future spending in its refining segment and boost free cash flow.