(CercleFinance.com) – RBC announced on Thursday that it had downgraded its opinion on the ExxonMobil share, which it reduced from ‘outperformance’ to ‘sector performance’ with a price target maintained at 125 dollars.
In a research note, the intermediary recalls that the title of the American oil giant did better than its peers last year, a phenomenon which it explains by the strength of its refining margins but also by the improvement of its free cash flow (FCF) outlook.
The analyst nevertheless declares that he expects the oil and gas markets to be less buoyant this year than in 2022, which leads him to anticipate a slowdown in the group’s results dynamic and therefore to perceive a profile more balanced risk/return on value.
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