Bank of America Downgrades Exxon Mobil to Neutral Amid Energy Sector Weakness
Bank of America has downgraded its rating for Exxon Mobil (XOM) from Buy to Neutral with a $158 price target, citing concerns over the energy sector. The move comes as U.S. crude oil futures fall below $80 per barrel and energy stocks broadly decline. In contrast, Chevron remains at a Buy rating by BofA. Exxon Mobil shares fell 0.9% in Tuesday's trading amid broader weakness among energy names. Analysts are pointing to the drop in oil prices as a key factor influencing investor sentiment toward major energy companies.
