Exxon Mobil Corporation (NYSE:XOM) is included among the 12 Best Stocks to Buy for the Long Term.
On January 28, BofA lifted its price target on Exxon Mobil Corporation (NYSE:XOM) to $135 from $129 while maintaining a Neutral rating. After comparing valuations across European and US integrated oil majors, the firm said the valuation gap favoring US companies is “still overdone.” Within the group of five supermajors, BofA said it prefers Buy-rated TotalEnergies and Chevron over Neutral-rated Exxon and Shell, as well as Underperform-rated BP, largely based on relative valuations.
In related news, a January 27 Reuters report said Exxon Mobil and China’s BYD plan to expand their partnership in hybrid vehicle technology. BYD said the two companies signed a long-term strategic Memorandum of Understanding on January 26, under which they will explore customized product research and development, potential collaboration in new materials, and other areas. Last year, BYD and Exxon jointly launched an engine oil specifically designed for BYD’s plug-in electric vehicles.
Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest integrated energy companies, with operations spanning oil and natural gas exploration, production, and refining. The company also manufactures fuels, petrochemicals, lubricants, and advanced plastics, while investing in lower-emission initiatives such as carbon capture and lithium production.
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