💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Buy-rated Exxon seen reaching $90 at Hilliard Lyons

Published 06/08/2017, 06:58 PM
© Reuters.  Buy-rated Exxon seen reaching $90 at Hilliard Lyons
XOM
-
  • Exxon Mobil (NYSE:XOM) is initiated with a Long-term Buy rating and $90 price target at Hilliard Lyons, which believes a reduced cost structure, two recent acquisitions and a more aggressive pace of capital spending position the company for a positive shift in reserves and production growth and a multiyear recovery in earnings.
  • XOM's dividend yield is 50% above the 10-year average, but growth averaging 3.2% over the past two years is ~60% below the norm for that span, and Lyons thinks that with improving coverage ratios, dividend growth could be poised for a rebound in the intermediate term.
  • Shares have been flirting with annual lows lately, but the firm notes it is early in the commodity recovery cycle, and anticipates valuation multiples will continue to improve into 2018.
  • Now read: Inside My Portfolio: What I Hold And Why


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.