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Fly News Breaks for May 3, 2017
MUSA
May 3, 2017 | 09:25 EDT
Stephens analyst Ben Bienvenu lowered his price target for Murphy USA to $76 from $82 after the company reported Q1 results. The analyst notes that Q1 presented Murphy USA with a challenging wholesale environment, as inventories were very high and the arbs were closed across the company's footprint. However, he is encouraged by the better than expected APSM gallons and merchandise sales, as well as the company's commentary on trends accelerating to exit the quarter. He reiterates an Overweight rating on the shares.
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