Exane BNP Paribas downgraded Exxon Mobil to Underperform from Neutral with a $105 price target The firm says “substantial excess” OPEC+ capacity is “hanging over” the oil and gas sector “like the Sword of Damocles.” With a weaker macro outlook the analyst downgraded the most refining-exposed names.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XOM:
- Oil companies urge Trump not to slash Biden’s IRA, WSJ reports
- Exxon Mobil selects Chart Industries’ IPSMR liquefaction process technology
- Exxon Mobil price target raised to $130 from $127 at BMO Capital
- Exxon Mobil estimates effects of market factors impacting Q3 results
- ExxonMobil’s (NYSE:XOM) Q3 Earnings Face Pressure from Falling Oil Prices