TD Cowen raises target for Marathon Petroleum stock to USD 478

Published on 10/23/2026 at 11:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue hit USD 51.99 billion, up 53.80 percent year over year. Marathon Petroleum stock costs EUR 411.30 on October 23, 2026 versus Xetra close.

Analyst target and earnings context

TD Cowen lifted its Marathon Petroleum target from USD 450.00 to USD 478.00 on October 22, 2026.
Second-quarter revenue rose 53.80 percent year over year to USD 51.99 billion.
Marathon Petroleum stock trades at EUR 411.30 at 10:50 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.53 percent above the Xetra close of October 22, 2026.

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Marathon Petroleum (ISIN US56585A1025) trades at EUR 411.30 at Lang & Schwarz on October 23, 2026, 0.53 percent above the Xetra close of October 22, 2026 at EUR 409.15. On October 22, 2026, TD Cowen analyst Jason Gabelman raised the price target from USD 450.00 to USD 478.00 while maintaining a Buy rating, according to Benzinga.

What does the target change mean?

The higher target follows a powerful second quarter. Zacks reported that net income reached USD 5.10 billion in the second quarter of 2026, compared with USD 1.20 billion in the prior-year quarter, while diluted earnings per share rose to USD 17.73 from USD 3.96. Revenue reached USD 51.99 billion, up 53.80 percent year over year.

The operating backdrop was equally important. Marathon Petroleum's Refining and Marketing segment generated adjusted EBITDA of USD 6.70 billion in the second quarter of 2026, compared with USD 1.90 billion a year earlier, while the refining margin increased to USD 36.33 per barrel from USD 17.58. The company also returned more than USD 2.80 billion to shareholders during the quarter, according to Zacks.

Three dated signals for MPC

On August 4, 2026, Marathon Petroleum reported USD 17.73 in diluted earnings per share for the second quarter, according to Zacks. On September 21, 2026, Goldman Sachs raised its target from USD 376.00 to USD 472.00, according to Benzinga. On October 22, 2026, TD Cowen raised its target from USD 450.00 to USD 478.00, according to Benzinga.

When are the next results?

MarketBeat lists November 3, 2026 as the estimated date for Marathon Petroleum's third-quarter results before the market opens, with the conference call scheduled for 11:00 a.m. ET. Its consensus estimate is USD 25.37 in earnings per share and USD 46.60 billion in revenue for the third quarter of 2026.

Price and market context

The euro quote is 7.03 percent below the 52-week high of EUR 442.40 and remains inside the reported 52-week range of EUR 110.36 to EUR 442.40. Marathon Petroleum has a market capitalization of EUR 116.3 billion as of October 23, 2026.

Marathon Petroleum stock was trading at EUR 411.30 at Lang & Schwarz on October 23, 2026 at 10:50 a.m. CEST, plus 0.53 percent versus the Xetra close of October 22, 2026 at EUR 409.15. The further course of trading is shown by the continuously updated real-time quote of Marathon Petroleum stock.