Friday, September 3, 2010

Deutsche (NYSE:DB) Lowers Exxon (NYSE:XOM) Price Target

Saying they like rival ConocoPhillips (NYSE:COP) better, Deutsche Bank (NYSE:DB) lowered the price target of Exxon Mobil Corporation (NYSE:XOM) from $80 to $70.

Deutsche did maintain its "Buy" on the oil giant though.

The reason for the preference for ConocoPhillips was they see more upside for the rival, which remains their top pick in the sector.

Warren Buffett continues to have a large stake in Conoco through his Berkshire Hathaway (NYSE:BRK-a) holding company.


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