
While many energy majors have cut back on investments in oil and gas, Exxon Mobil Corp (NYSE:XOM) expects the demand for fossil fuels to grow at least in the medium term and has continued to invest in “some of the most attractive oil & gas projects globally,” according to Credit Suisse.
The Exxon Mobil Analyst: Manav Gupta upgraded Exxon Mobil from Neutral to Outperform, while raising the price target from $115 to $125.