September 18, 2012 at 07:49 AM EDT
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 Dividend.com 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here