Standpoint Research has launched coverage on Exxon Mobil (NYSE:XOM), starting the energy giant off with a "Buy" rating.
Exxon has struggled over the last 12 months, dropping below $57 at its low point in July, but rebounding from then on.
On Friday they closed at $66.34, gaining $0.02, or 0.03 percent. Standpoint has a price target of $78 on the oil giant.
Exxon has a market cap of approximately $337.79 billion.
Showing posts with label Standpoint Research. Show all posts
Showing posts with label Standpoint Research. Show all posts
Monday, October 25, 2010
Thursday, October 7, 2010
Chevron (NYSE:CVX) Downgraded by Standpoint Reserach to "Hold"
Chevron (NYSE:CVX) was downgraded by Standpoint Research from "Buy" to "Hold," citing valuation.
Standpoint said, "CVX, market cap $168 bln, is now fairly valued at 1.8X book value, 9X earnings and 8X peak earnings. The shares are closing in on the July 2008 high. On the two-year chart CVX is +14% even though crude is down 7%. Our main concern is that these low-beta shares have run up 24% since our July 1 recommendation, topping the S&P-500 by > 1100 bps. This Energy and Materials trade looks a bit crowded to us and we want to lighten up here."
Chevron closed Wednesday at $83.89, gaining $0.50, or 0.60 percent.
Standpoint said, "CVX, market cap $168 bln, is now fairly valued at 1.8X book value, 9X earnings and 8X peak earnings. The shares are closing in on the July 2008 high. On the two-year chart CVX is +14% even though crude is down 7%. Our main concern is that these low-beta shares have run up 24% since our July 1 recommendation, topping the S&P-500 by > 1100 bps. This Energy and Materials trade looks a bit crowded to us and we want to lighten up here."
Chevron closed Wednesday at $83.89, gaining $0.50, or 0.60 percent.
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