Marathon Petroleum (NYSE: MPC) Price Target Raised by Wells Fargo Amid Strong Earnings Outlook

• Wells Fargo & Company (NYSE: WFC) has raised its price target for Marathon Petroleum Corporation (NYSE: MPC) to $560.00 from $400.00.
• Marathon Petroleum is identified as a value stock with strong growth potential, highlighted by its PEG ratio and an expected growth rate of 53.3%.
• U.S. refiners, including Marathon Petroleum, are projected to surpass previous earnings records due to global energy supply constraints.

Marathon Petroleum Corporation (NYSE: MPC) operates oil refineries that turn crude oil into fuels such as gasoline and diesel. It competes with other independent U.S. refiners, including Valero Energy Corporation (NYSE: VLO) and Phillips 66 (NYSE: PSX). Wells Fargo & Company (NYSE: WFC) raises its price target for the stock to $560.00 from $400.00 in an update posted on October 14, 2026.

At $476.98 when the update was posted, Marathon Petroleum trades $83.02 below the new target, or about 17.4%. A price target is an analyst’s estimate of where a stock could trade, not a guarantee that it will reach that price.

As highlighted by Zacks Investment Research, Marathon Petroleum is one of four value stocks noted for their PEG ratios and growth potential. The PEG ratio compares a stock’s price-to-earnings ratio with its expected earnings growth. Zacks cites an expected growth rate of 53.3% for Marathon Petroleum but does not specify the period.

As highlighted by The Wall Street Journal, U.S. refiners including Marathon Petroleum are expected to beat their near-record earnings from the June quarter as wars limit global energy supplies. Marathon Petroleum rises $18.17, or 3.96%, to $476.98. It trades as high as $477.76, matching its 52-week high, with about 1.64 million shares changing hands.