Exxon’s (XOM) Relative Valuation Comes into Focus at BofA

On January 28, BofA lifted its terms people connected Exxon Mobil Corporation (NYSE:XOM) to $135 from $129 portion maintaining a Neutral rating. After comparing valuations crossed European and US integrated lipid majors, the steadfast said the valuation spread favoring US companies is “still overdone.” Within the radical of 5 supermajors, BofA said it prefers Buy-rated TotalEnergies and Chevron implicit Neutral-rated Exxon and Shell, arsenic good arsenic Underperform-rated BP, mostly based connected comparative valuations.

In related news, a January 27 Reuters study said Exxon Mobil and China’s BYD program to grow their concern successful hybrid conveyance technology. BYD said the 2 companies signed a semipermanent strategical Memorandum of Understanding connected January 26, nether which they volition research customized merchandise probe and development, imaginable collaboration successful caller materials, and different areas. Last year, BYD and Exxon jointly launched an motor lipid specifically designed for BYD’s plug-in electrical vehicles.

Exxon Mobil Corporation (NYSE:XOM) is 1 of the world’s largest integrated vigor companies, with operations spanning lipid and earthy state exploration, production, and refining. The institution besides manufactures fuels, petrochemicals, lubricants, and precocious plastics, portion investing successful lower-emission initiatives specified arsenic c seizure and lithium production.

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