UPDATE: Morgan Stanley Initiates Marathon Oil at Equal-Weight

Morgan Stanley is out with its report today on Marathon Oil MRO, initiating MRO at Equal-Weight. In a note to clients, Morgan Stanley writes, "Initiating on the new MRO at Equal-weight. After recent 24% relative outperformance, we see more balanced risk-reward versus peers. With ~25% base case upside vs. HES HES at 41% and MUR MUR at 38%. Longer term, we see more upside as MRO executes its growth strategy and closes the production growth gap to peers." Morgan Stanley maintains a $41 PT on MRO. Shares of MRO closed Thursday at $33.10, up 0.88% from Wednesday's close.