ExxonMobil: Jefferies cuts target price.
(CercleFinance.com) - Jefferies has cut its price target on ExxonMobil from 86 dollars to 81 dollars, citing a valuation that is "not especially compelling".
The investment bank exaplins that the share's valuation is its primary concern, which is currently trading at a 25% premium to super-major peers. It is hence maintaining a "hold" rating on the shares.
"However, current dividend yield is amongst the safest in the sector and is about double the yield of the S&P 500," Jefferies said in a research note dedicated to oil majors.
Jefferies believes all of these stocks are discounting oil prices around 60 dollars per baril, compared to a current crude oil price of 46.9 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The investment bank exaplins that the share's valuation is its primary concern, which is currently trading at a 25% premium to super-major peers. It is hence maintaining a "hold" rating on the shares.
"However, current dividend yield is amongst the safest in the sector and is about double the yield of the S&P 500," Jefferies said in a research note dedicated to oil majors.
Jefferies believes all of these stocks are discounting oil prices around 60 dollars per baril, compared to a current crude oil price of 46.9 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.