RBC analyst says was wrong on Exxon as oil giant upgraded to sector perform

Dow Jones2022-01-19

MW RBC analyst says was wrong on Exxon as oil giant upgraded to sector perform

Exxon Mobil $(XOM)$ was upgraded to sector perform from underperform at RBC Capital Markets, which lifted its price target to $90 from $70. Analyst Biraj Borkhataria said the firm was wrong on Exxon last year and that the oil giant has gone from the brink of a potential dividend cut to significant free cash flow potential in 2022. Despite moderating chemicals margins, he says more upgrades will flow through this year. Exxon shares rose 1.7% on Tuesday to reach a new 52-week high, and have jumped 53% over the last 52 weeks.

-Steve Goldstein

 

$(END)$ Dow Jones Newswires

January 19, 2022 04:41 ET (09:41 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白
发表看法