Loading...
Loading...
Credit Suisse increases its price target to $42 on Neutral-rated Marathon Oil
MRO as valuation appears more discounted than peers.
Credit Suisse says, "Despite the shares rallying 18% ytd (SPX up 8%) both shares are
at a deeper discount to NAV than the average larger cap producer. MRO already has a strong existing asset base of longer lived assets underpinning cashflow. The Eagle Ford provides growth on top. Closing the 31% gap to NAV or even pushing the NAV higher from here requires positive surprises in the Eagle Ford or asset disposals. Demonstrating that management can redirect asset sale proceeds into attractive acreage acquisition would help too (Brent is $120/bbl after all)."
MRO closed at $35.01 a share on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in