Shares of Marathon Oil (MRO - Get Report) were lower in early afternoon trading on Wednesday, despite Argus upgrading its rating on the stock to "buy" from "hold," with a $52 price target earlier today. The company "offers an exceptional opportunity of a diverse, high-return inventory within its three primary resource plays," the firm said in a note.
The $52 price target is notable considering the stock price is between $18 and $19 right now.
"If you think oil prices are going higher, this one is one of the most levered to oil prices. This and Hess, (HES - Get Report) " TIAA Global Asset Management managing director Stephanie Link said on CNBC's "Halftime Report" on Wednesday afternoon.
Investors that see oil hitting $70 or above should "definitely" buy the stock, Link claimed. Marathon also notably did away with some of its high cost assets, so that it can make money when oil is at $51 per barrel.
People shouldn't get caught up in focusing on that $52 price target because they will lose sight of the fundamentals, Joe Terranova said. The stock is already up nearly 50% YTD.
"The reality should be 'Okay, let's talk about the fundamentals of this company, which are improving, which are recovering. You're seeing rigs beginning to rise once again. They have a strong presence in Eagle Ford, in the Bakken so forget about $52," Terranova added.