Marathon Petroleum Downgraded at Credit Suisse (MPC)

Marathon Petroleum (MPC) was the target of some bearish commentary on Tuesday as analysts at Credit Suisse downgraded the oil company from Outperform to Neutral.

The analyst noted the downgrade was a valuation call, and cited a $65 price target. MPC closed Monday at $53.64, indicating that there is still considerable upside to the Credit Suisse target price. Despite declining more than 3.5% during the first trading session of the week, MPC is up more than 60% so far on the year.

The Bottom Line
Shares of Marathon Petroleum (MPC) have a 2.61% dividend yield, based on last night’s closing stock price of $53.64. The stock has technical support in the $48-$50 price area. The shares are trading near all-time highs.

Marathon Petroleum (MPC) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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