Integrated oil giant Exxon Mobil Corporation ( XOM ) on Thursday caught a big upgrade from analysts at UBS.
The firm said it boosted its rating on XOM from "Neutral" to "Buy" with a $90 price target. That target suggests a 22% upside to the stock's Wednesday closing price of $73.65.
UBS cited the company's compelling valuation and relative price-to-earnings ratio for the upgrade.
Exxon Mobil shares fell 35 cents, or -0.5%, in premarket trading Thursday.
The Bottom Line
Shares of Exxon Mobil ( XOM ) have a 2.55% dividend yield, based on last night's closing stock price of $73.65. The stock has technical support in the $68-$70 price area. If the shares can firm up, we see overhead resistance around the $75-$77 price levels.
Exxon Mobil Corporation ( XOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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