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Australia
Citigroup Adjusts Price Target on Marathon Petroleum to $257 From $243, Maintains Neutral Rating
Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $253.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $256.58, Change: $+4.04, Percent Change: +1.60%
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Research
Research Alert: Peg Reports Strong Q1 Beat; On Track For $4.2b Capex And 7% Eps Growth In 2026
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PEG reported Q1 2026 adjusted EPS of $1.55 vs. $1.43 (+8.4% Y/Y, +8.5% vs. consensus), supported by higher PSE&G margins from regulated infrastructure investments and customer growth, partially offset by higher depreciation and interest expense. PSEG Power earnings increased due to higher realized power prices and lower O&M costs, offset by lower generation volumes. We see the company as on target for $4.2B full-year 2026 capex guidance after deploying ~$0.8B in Q1, while PEG maintained long-term targets including $24B-$28B total capex for 2026-2030 and a 6%-7.5% rate base CAGR. Management reaffirmed its 2026 EPS guidance of $4.28-$4.40, representing ~7% growth at the midpoint. Both residential electric and gas customers increased ~1% on a trailing-12-month basis, which we think reflects continued execution of the regulated investment program. Annualized dividends were increased ~6% to $2.68 for 2026. We view this as a competitive growth rate amongst Multi-Utility peers.
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Australia
Merck Completes Terns Pharmaceuticals Acquisition
Merck (MRK) said Tuesday it has completed the acquisition of Terns Pharmaceuticals after a cash tender offer at $53 per share.Terns' stock will no longer be listed on Nasdaq, it said.The deal will result in a charge to research and development expense of about $2.35 per share, included in Q2 and full year 2026 GAAP and non-GAAP results, Merck said.GAAP and non-GAAP EPS are also expected to take a hit of about $0.12 a share in 2026 on costs associated with advancing TERN-701 and costs of financing, it added.Price: $113.21, Change: $+0.10, Percent Change: +0.09%
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