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-0.000201713553261616 0.000505970451325758 0.000202388180530265 0.00124806044660327 0.00242865816636318 -0.000201713553261616 0.00192268771503761 -0.000607164541590602
Stock impact report

ExxonMobil downgraded at Wolfe after recent rally leaves shares fairly valued [Yahoo! Finance Canada]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
oil pick after a sharp rally pushed the stock to levels analysts believe now fully reflect the company's free cash flow (FCF) trajectory. Shares of ExxonMobil were trading at $147.68 as of Monday's close, up 23% year-to-date and 38% over the past twelve months, outpacing both the S&P 500 and the broader energy sector. Wolfe also removed its $153 price target along with the downgrade. “XOM's share performance may have been fueled by external factors. But it has left the shares fairly valued beyond an oil price call, with one eye on exposure to the MidEast. After 5yrs as our top major idea, we see sector-leading FcF growth discounted,” analyst Doug Leggate said. Wolfe's rating cut rests primarily on valuation. The firm's discounted cash flow model uses long-term Brent crude at $70 per barrel and a weighted-average cost of capital of 7%. At long-term $80 per barrel, Wolfe estimates fair value of around $174 per share — roughly where the stock peaked at the height of the Iran war Show less Read more
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