Marathon Petroleum (NYSE:MPC) Has Just Had Its Price Objective Increased by Analysts at JP Morgan to $62.00

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Stock Analysis:Marathon Petroleum (NYSE:MPC) Stock Target Raised

In a recent research report shared with investors and clients by JP Morgan on Friday morning, Marathon Petroleum (NYSE:MPC) had its target price per share increased to $62.00. The firm now has a solid Overweight rating on shares.

From a total of 15 analysts covering Marathon Petroleum Corp (NYSE:MPC) stock, 15 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 83% of the ratings are positive. The highest target price is $85 while the lowest target price is $58. The mean of all analyst targets is $68.67 with a 19.09% above today’s ($55.63) stock price. Marathon Petroleum Corp was the topic of 14 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 4 with “Overweight” rating. Vetr upgraded shares to “Buy” rating and $59 target share price in a report from an August 24. Oppenheimer maintained MPC stock in a recent report from November 25 with “Outperform” rating. Finally, JP Morgan upgraded the stock to “Overweight” rating in a report issued on an August 26.

The stock increased 2.20% or $1.2 on December 4, striking $55.63. Approximately shares of stock traded hands. Marathon Petroleum Corp (NYSE:MPC) has declined 45.06% since May 4, 2015 and is downtrending. It has underperformed by 43.98% the S&P500.

Marathon Petroleum Corporation is engaged petroleum product refining, marketing, retail and transportation businesses. The company has a market cap of $29.65 billion.

According to Zacks Investment Research, “Marathon Petroleum Corporation is engaged in refining, transporting, and marketing of petroleum products. Marathon Petroleum Corporation is headquartered in Findlay, Ohio.” Get a free copy of the Zacks research report on Marathon Petroleum Corp (MPC).

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