UPDATE: Benchmark Initiates Coverage on Marathon Petroleum

According to a research report published today, Benchmark has initiated Marathon Petroleum

with a Hold rating and $39 PT. In the report, Benchmark commented, “Our FY2012 and FY2013 EPS estimates of $5.96 and $6.53, respectively, exceed consensus earnings forecasts and reflect our assumptions of continued robust refining results, strong retail marketing performance, and the benefit of $2 billion in share repurchases each year.” Marathon Petroleum closed yesterday at $41.99.