BofA cuts Exxon Mobil price target

Bank of America analyst Jean Ann Salisbury is the latest to issue a lukewarm analysis on Exxon after the American oil giant issued a profit warning earlier this week, citing weak prices for refined products like gasoline.

Salisbury cut the price target she had on the shares from $124 to $122, about a 14% premium from where the shares are now trading, and kept her neutral rating on the shares.

Still, Wall Street remains pretty optimistic on XOM. About 60% of analysts captured by market research platform FactSet have a “buy” or “overweight” rating on the shares, the highest percentage in a decade. We can’t help but wonder if Exxon is trying to tamp down some of that optimism with its recent profit warning. The company is set to report on January 31.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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