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Fly News Breaks for July 18, 2019
XOM
Jul 18, 2019 | 06:11 EDT
As previously reported, RBC Capital analyst Biraj Borkhataria downgraded Exxon Mobil to Sector Perform and lowered his price target to $90 from $100. The analyst is positive on the company's "counter-cyclical" strategy and longer term potential, but believes that it is faced with greater macro headwinds in Chemicals, refining & LNG sectors. Borkhataria further states that Exxon Mobil stock now trades at a significant premium on Enterprise Value to Debt-adjusted cash flow multiple basis relative to its key peers.