Goldman Sachs downgraded shares of Exxon Mobil on Monday, citing the stocks outperformance from 2020 as a reason to re-evaluate.
Goldman Sachs thinks it's time to ease exposure to Exxon Mobil after the oil giant's massive multiyear run. The firm downgraded the oil giant's stock from buy to neutral on Monday, with a $125 per share price target, or 5.6% upside compared to Friday's $118.34 close. Goldman Sachs analyst Neil Mehta noted the firm upgraded Exxon in December 2020. In that time, the stock has surged more than 170%, while the S & P 500 is up about 13% in that time.
XOM mountain 2020-12-16 Exxon shares since late December 2020 Mehta said that Exxon's cost cutting, leadership changes, long-term project investments as well as stronger conviction on stock repurchases and divided yields helped drive a "structural re-rate" after years of underperformance. Now, "the valuation of ExxonMobil now appears to better reflect the structural turnaround in the business," Mehta said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Goldman Sachs says these 'compelling' stocks are earnings season winnersGoldman Sachs named a slew of stocks to buy following a busy earnings season.
Baca lebih lajut »
16 stock picks to buy with high cash returns: Goldman SachsBuy these 16 high-cash-returning stocks to secure the best chance at outperformance as the economy keeps slowing
Baca lebih lajut »
Exxon Mobil Stock Price Today | NYSE XOM Live Ticker - Investing.comView today's Exxon Mobil Corp stock price and latest XOM news and analysis. Create real-time notifications to follow any changes in the live stock price.
Baca lebih lajut »
Exxon’s Canadian Affiliate Struggles With Oil Sands Wastewater LeakExxon’s Canadian affiliate is struggling to contain the environmental and social effects of a continuing oil sands wastewater leak
Baca lebih lajut »
WSJ News Exclusive | Epstein’s Private Calendar Reveals Prominent Names, Including CIA Chief, Goldman’s Top LawyerCIA's William Burns, Goldman's Kathryn Ruemmler, Noam Chomsky, the president of Bard College, a Kissinger consultant and a Rothschild. They all met with Jeffrey Epstein in the years after his conviction, documents show.
Baca lebih lajut »