Jefferies lifts oil-price view and upgrades Eni and Exxon Mobil

Analysts at Jefferies elevated their oil value view in addition to their scores on Eni and Exxon Mobil. They lifted their long-term Brent oil BRN00, +1.22% forecast to $58 from $55, citing recovering demand because the vaccination rollout continues and a decrease provide danger from the excessive ranges of OPEC+ spare capability. They lifted Eni


Analysts at Jefferies elevated their oil value view in addition to their scores on Eni and Exxon Mobil. They lifted their long-term Brent oil
BRN00,
+1.22%

forecast to $58 from $55, citing recovering demand because the vaccination rollout continues and a decrease provide danger from the excessive ranges of OPEC+ spare capability. They lifted Eni
ENI,
+0.18%

to purchase from maintain, citing the dividend yield and the potential to spin off its biofuel enterprise. Exxon
XOM,
-0.23%

was upgraded to carry from underperform, on a improved macro surroundings, although they mentioned Chevron’s
CVX,
-0.10%

funding case was extra compelling, combining the next money circulation yield and better upstream development potential.



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