Exxon’s (XOM) Relative Valuation Comes into Focus at BofA

Core Insights - Exxon Mobil Corporation (NYSE:XOM) is recognized as one of the 12 best long-term stocks to buy [1] Group 1: Valuation and Market Position - BofA raised Exxon's price target to $135 from $129 while maintaining a Neutral rating, indicating a focus on relative valuation among US and European integrated oil companies [2] - BofA prefers Buy-rated TotalEnergies and Chevron over Neutral-rated Exxon and Shell, and Underperform-rated BP, based on relative valuations within the supermajors [2] Group 2: Strategic Partnerships - Exxon Mobil and China's BYD have signed a long-term strategic Memorandum of Understanding to expand their partnership in hybrid vehicle technology, focusing on customized product R&D and new materials [3] - The collaboration follows the launch of a specialized engine oil for BYD's plug-in electric vehicles, indicating a commitment to innovation in the automotive sector [3] Group 3: Company Overview - Exxon Mobil is one of the largest integrated energy companies globally, involved in oil and natural gas exploration, production, refining, and manufacturing of fuels, petrochemicals, lubricants, and advanced plastics [4] - The company is also investing in lower-emission initiatives, including carbon capture and lithium production, reflecting a focus on sustainability [4]