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

According to Jinse Finance APP, Morgan Stanley released a research report maintaining an "Overweight" rating on Marathon Petroleum (MPC.US) and raised its target price from $453 to $458. The report pointed out that Marathon Petroleum's Q3 2026 performance exceeded expectations, with ample cash flow and an increase in shareholder returns. The company also announced the sale of two refineries and supporting midstream assets to CVR Energy (CVI.US) for $4.2 billion. The proceeds will mainly be invested in high-return projects along the Gulf of Mexico coast. Morgan Stanley is optimistic about the resilience of its business portfolio and the mid-cycle prosperity of the refining industry.