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JP Morgan analyst John M Royall highlighted key trends for the North American Integrated Oils sector entering 2025, with updates on forecasts, price targets, and ratings on major companies.
Rating/Price Target Update:
- The analyst maintained an Overweight rating and a price target of $125 on Exxon Mobil Corporation (NYSE:XOM), citing its defensive characteristics in downside scenarios and portfolio of high-value projects in both upstream and downstream operations.
- JP Morgan remains ‘Not Rated’ on Chevron Corporation (NYSE:CVX) due to its involvement in the HES acquisition.
- Also, Royall reiterated the Overweight rating on Cenovus Energy Inc (NYSE:CVE), viewing it as a unique execution story with the most attractive valuation in the coverage group.
- The analyst downgraded the rating for Imperial Oil Limited (AMEX:IMO) to Underweight from Neutral, citing its low free cash flow yield and free cash flow to enterprise …
Full story available on Benzinga.com
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