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Fly News Breaks for December 2, 2016
XOM
Dec 2, 2016 | 09:07 EDT
As noted earlier, BMO Capital analyst Brendan Warn initiated coverage of Exxon Mobil with a Market Perform rating and a $78 price target. The analyst says that the company is "the gold standard major due to its quality chemicals business, balance sheet, and project delivery capabilities." However, he thinks that the company "lacks growth," while its current valuation premium is "difficult to justify" as its competition intensifies.
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