Bank of America Merrill Lynch Maintains Buy on Marathon Oil

Bank of America Merrill Lynch is out with its report today on Marathon Oil (NYSE: MRO), maintaining Buy.

In its report, Bank of America Merrill Lynch writes, "We believe the recent announcement to separate the company into two separate units that focus on E&P and refining, will release value from the shares and demand a higher premium to the current share price."

Bank of America Merrill Lynch maintains a $56 PO on MRO.

At the time of posting, shares of MRO were trading pre-market at $26.00, up 3.59% from Thursday's close.