Market Overview

Bank of America Reiterates Buy, $50 PO on Marathon Petroleum


Bank of America remains Buy-rated with a $50 price objective on Marathon Petroleum (NYSE: MPC) as the company launches an $850mm accelerated share repurchase.

Bank of America says, "Following the announcement of $2bn of share repurchase authorization with their earnings release 2 days ago, MPC this morning announced plans to launch an accelerated repurchase program of $850 over the first 3 quarters of this year. We had modeled $600 over the same time frame."

MPC closed at $43.62 a share on Thursday.

Posted-In: Bank of AmericaAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings


Related Articles (MPC)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→