Exxon Mobil Shares Slightly Lower On Barclays Downgrade
In a report published Friday morning, Barclays analyst Paul Cheng downgraded Exxon Mobil (NYSE: XOM) from Equal-weight to Underweight, but raised the price target from $100 to $105.
The downgrade comes amid beliefs that the company will face near-term headwinds due to a lack of production growth and a prolonged period of high oil prices.
Latest Ratings for XOM
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Wells Fargo | Maintains | Overweight | |
| Mar 2022 | MKM Partners | Maintains | Buy | |
| Mar 2022 | BMO Capital | Maintains | Market Perform |
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Barclays Paul ChengDowngrades Price Target Analyst Ratings
