UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Marathon Oil Corporation on FY Guidance

In a report published Monday, Credit Suisse reiterated its Outperform rating on Marathon Oil Corporation

, and raised its price target from $40.00 to $43.00. Credit Suisse noted, “Based on FY guidance we raise our cashflow estimates but lower earnings (higher upfront DD&A from shale capex). We believe the market should focus more on the cashflow increase based on falling cash costs in the US and rising production. MRO has given further color on the well inventory in shale which is 10+yrs and should allow high return growth beyond 2017. Any success in the pre-salt Gabon, GoM or Norway would be icing.” Marathon Oil Corporation closed on Friday at $34.53.