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Exxon Mobil Corporation (NYSE:XOM): Current price $89.98
Shares were downgraded from Outperform to Neutral at Macquarie Equities Research Wednesday, because it does not believe they have much more room in which to move to the upside, as they are almost at an all-time high, after rising 6 percent over the past month. Analyst Jason Gammel also lowered his price target from $101 to $99, commenting that ”We believe that Exxon will struggle to generate production growth in the near term, and now forecast essentially flat production in both 2013 and 2014, with about 1.5 percent growth in 2015 when liquefied natural gas projects in Papua New Guinea and Australia begin to ramp up.”
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