Goldman Sachs Raises MPC Price Target to $472

Goldman Sachs reiterates a Buy rating for Marathon Petroleum, increasing its price target significantly, a 0.43% downside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:00 PM EDT

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Goldman Sachs raised its price target on Marathon Petroleum Corporation ($MPC) to $472 from $376 on September 21, 2026, and rates the stock "Buy".

Since the rating, $MPC is down 3.2% after 1 week and up 18.8% to date (from the $402.38 close on Sep 21, 2026).

MPC Marathon Petroleum Corporation

$478.07 +192.86% year to date

Daily close · Oct 16, 2026

Key Points

Goldman Sachs has reiterated its Buy rating on Marathon Petroleum Corporation (NYSE: MPC) and raised the price target from $376 to $472 on September 21, 2026.
Goldman Sachs's $472 price target implies 0.43% downside from Marathon Petroleum Corporation's ($MPC) current $474.01 share price.
The stock closed at $424.89 prior to this announcement, suggesting it could have room for growth based on the new target.
Marathon Petroleum operates in the energy sector, focusing on refining and marketing oil and gas products, and is set to report earnings on November 3, 2026.

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Goldman Sachs Upgrades Marathon Petroleum Target

Goldman Sachs has reiterated its Buy rating on Marathon Petroleum Corporation (NYSE: MPC) and raised its price target from $376 to $472 on September 21, 2026. This change reflects the firm's strong confidence in the company's performance in the energy sector.

Analyst rating track record

Goldman Sachs vs. the S&P 500

YTD return -3.21% hypothetical

All-time return -3.21% S&P 500 +2.12%

vs. S&P 500 -5.33% behind the index

Hypothetical returns from Goldman Sachs's disclosed trades, not real profit or advice. How we model this.

Implications of the New Target

The new price target of $472 is significantly higher than the previous target, suggesting that analysts see potential for growth in Marathon Petroleum's stock. The stock closed at $424.89 before the announcement, which means there could be upside based on the new target.

Analysts Set New Price Targets

Several other analysts have also maintained or adjusted their ratings for Marathon Petroleum. On October 14, Wells Fargo maintained an Overweight rating with a target of $560, up from $400. Citigroup kept a Neutral rating with a target of $518, raised from $318, on October 13. Barclays also maintained an Overweight rating, increasing its target to $488 from $321 on October 12. This shows a consensus among analysts that Marathon Petroleum has the potential for further growth.

Stock Performance Context

Marathon Petroleum's stock has shown resilience, trading close to its 52-week high of $431.08. The company's performance is supported by strong revenue growth and a solid market position in the oil and gas refining industry. The stock's current price is well above its 50-day moving average of $349.43, indicating positive momentum.

12-month forecast

$MPC price target

Marathon Petroleum Corporation daily closes and this analyst's $472 target. Not advice.

Recent Earnings

In its latest earnings report, Marathon Petroleum posted revenue of approximately $154.1 billion, reflecting a growth rate of 53.7%. The company's earnings per share (EPS) stood at $28.85, showcasing its profitability in a competitive market. The next earnings report is scheduled for November 3, 2026, which could further influence analyst ratings and stock performance.

What Marathon Petroleum Corporation Does

Marathon Petroleum Corporation is an integrated downstream energy company based in Findlay, Ohio. It operates refineries and markets a range of oil and gas products, including transportation fuels and renewable diesel. The company continues to adapt to market demands, which is likely a factor in the analysts' positive outlook.

What’s Next for Marathon Petroleum

Investors will be watching for the upcoming earnings report on November 3, 2026, as it may provide further insights into the company's performance. The reiteration of the Buy rating and the increase in the price target by Goldman Sachs highlight the potential for growth in Marathon Petroleum's stock, reflecting analysts' ongoing confidence in the company’s future.