Investing.com – ExxonMobil stock has slumped for most of the past year, but one Wall Street firm has added the energy giant to its list of best investment ideas, calling it a great buying opportunity.
Bank of America/Merrill Lynch likes ExxonMobil’s potential to double its cash flow in the coming years, and expects the company to resume share buybacks in 2018.
The firm reiterated its buy rating and $100 stock-price target, and also added the company to its US 1 top ideas list.
BoAML said ExxonMobil has a “growth outlook that is unprecedented amongst among the large-cap U.S. oils.”
Though prices have rebounded in the past year, shares in ExxonMobil and other big energy companies haven’t benefitted much.
The stock is down 7% in the past 12 months and 13% from its January 2018 high.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.