Morgan Stanley is bullish on Marathon Petroleum (MPC.US): Q3 results beat expectations, refining strength combined with midstream resilience, price target raised to $458.

Zhitong Finance APP has learned that Morgan Stanley issued a research report maintaining its "Overweight" rating on Marathon Petroleum (MPC.US) and raising its target price from $453 to $458. The report noted that Marathon Petroleum's third-quarter 2026 results exceeded expectations, with ample cash flow and increased shareholder returns, and announced the sale of two refineries and associated midstream assets to CVR Energy (CVI.US) for $4.2 billion. The proceeds will be focused on high-return projects along the Gulf Coast. The firm is optimistic about the resilience of its business portfolio and the mid-cycle prosperity of the refining industry.