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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:09 EDT
Credit Suisse analyst Manav Gupta maintained an Outperform rating on Marathon Petroleum (MPC) and raised his price target on shares to $75 from $72 based on a buyer emerging for the Speedway franchise that is willing to pay up to $22B, higher than earlier reports of $15B. The analyst believes this higher number offsets any tax leakage, and would unlock $21 per share in value. Gupta added that regardless of the price, he does not believe the value of Speedway is reflected in Marathon's current share price.