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Exxon’s Stock Surge and Sudden Shift | Durham News
Bank of America just downgraded ExxonMobil to “Neutral” — but raised its price target too. Sounds contradictory, right? Here’s why: Exxon’s stock soared last year on fears of Middle East conflict and oil supply disruptions, especially around the Strait of Hormuz. But as diplomacy eased tensions and oil prices cooled, the market’s “geopolitical tailwind” faded. The downgrade reflects that Exxon’s rally outpaced its original valuation thesis — and now, peace might be the real drag. Meanwhile, Chevron, with less exposure to conflict zones, remains the preferred energy play — though these are…
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