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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 08:05 EDT
Jefferies analyst Christopher Sighinolfi noted that Bloomberg reported yesterday that Marathon Petroleum's Speedway fuel distribution franchise has drawn interest from multiple potential buyers and suggested a potential sale value in excess of $20B. While Marathon has formally announced plans to spin Speedway to shareholders, he believes a sale could provide an accelerated separation with value certainty, Sighinolfi tells investors. The analyst, in a note titled "Many Ways to Win," kept a Buy rating and $74 price target on Marathon Petroleum shares.