Marathon Petroleum set for strong gains with $70/share cash flow and $335 target amid global refining disruptions.

Marathon Petroleum is positioned for significant profits as global refining disruptions, especially in Russia, keep crack spreads elevated above $45 for over 15 months. Ukrainian strikes have reduced about a third of Russian refining capacity, supporting these high margins. The company expects around $70 per share in excess cash flow by Q3 2027, enabling aggressive share buybacks and at least 10% share retirement in the next year. Analysts see a sum-of-the-parts valuation target of $335 per share, with further positive revisions and share price gains anticipated.