BNP Paribas downgraded Exxon Mobil (XOM) to Underperform from Neutral with a price target of $125, up from $114. The firm sees ‘nothing wrong” with the company’s Q4 report. It cites valuation for the downgrade, saying Exxon trades at a five-year high price-to-earnings multiple.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XOM:
- Exxon Mobil price target raised to $150 from $145 at RBC Capital
- Exxon Mobil price target raised to $140 from $133 at JPMorgan
- Exxon Mobil price target raised to $171 from $145 at UBS
- Exxon Mobil Earnings Call: Record Output, Tech-Driven Growth
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!