Now that Exxon Mobil (XOM) is nearing $90, Bernstein has upgraded XOM to Outperform, calling the company a safe investment in the current environment. We assume it’s “safe” because of $150 oil and the “current environment” refers to a global economy collapse. Regardless, Bernstein cites:
- best of industry returns
- a high credit rating
Bernstein upgraded Exxon Mobil (XOM) from Market Perform to OUTPERFORM.
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