Bank of America Provides Color on Marathon Oil Corporation

Bank of America provided color on Marathon Oil Corporation MRO. At the moment, Bank of America has a Buy rating on the company's stock and a price target of $70. In a research report published today, Bank of America stressed its optimism about the company's future. In the report, Bank of America states, "By securing a low risk repeatable resource play, management has addressed concerns over portfolio visibility and reserve depth and in our view has secured a route to multiple expansion. In our recent note ‘separation analysis' we examined the resilience of MRO's underlying production and critically, upside potential from reinvestment of free cash flow. With this deal MRO has altered the risk profile of an underlying portfolio we continue to view amongst the most attractively valued of the large cap US oils. Buy." On Wednesday, Marathon closed the day at $52.65.