Marathon Petroleum price target raised to $198 from $183 at TD Cowen

Group 1 - TD Cowen analyst Jason Gabelman raised the price target on Marathon Petroleum (MPC) to $198 from $183 while maintaining a Buy rating on the shares [1] - The firm's updated model reflects earnings that exceeded expectations due to refining gross margin aligning with historical capture [1] - First quarter 2026 throughput and operating expenses will be affected by turnarounds, but operations are expected to improve thereafter with lower year-over-year turnaround spending and future declines [1] Group 2 - Margins are anticipated to benefit from seasonality [1]