Wall Street Is “”Finally“”Warming To Exxon Mobil

Wall Street Is “”Finally“”Warming To Exxon Mobil

For a long time recommending Exxon



XOM

Mobil stock felt like being the Maytag repairman.  Finally, this week, the Street has begun to figure out the extraordinary value in XOM stock. As I noted in this Forbes article, the real growth at this company is hidden by the market's laser -focus on commodity price levels.  So, yesterday, Goldman



GS

Sachs upgraded Exxon to Buy for the first time in four years, with a price target of $52.  Wells Fargo



WFC

had upgraded XOM earlier in the week.

NEW YORK, UNITED STATES - 2020/10/20: A view of an Exxon logo at a Gas Station in Flushing, Borough ... [+] of Queens, New York. US President Trump invoked the company's name at a rally in Arizona, saying all he had to do to raise funds was call Wall Street and oil executives. (Photo by John Nacion/SOPA Images/LightRocket via Getty Images)



SOPA Images/LightRocket via Getty Images

  



While the GS report, available in partial form here for those without access to institutional research, has some weird gymnastics around