Wall Street Is “”Finally“”Warming To Exxon Mobil
- Date: 16-Dec-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
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