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Fly News Breaks for August 19, 2019
XOM, CVX
Aug 19, 2019 | 07:43 EDT
Barclays analyst Jeanine Wai initiated Exxon Mobil (XOM) with an Equal Weight rating and $73 price target, stating that while she thinks the company's counter-cyclical investment approach will eventually pay off, it leaves a near-term free cash flow deficit after dividend at lower oil prices. Wai, who also initiated Chevron (CVX) with an Overweight rating in the same note, said she prefers its o superior current free cash flow profile when compared to Exxon.
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