Shares of Exxon Mobil (XOM) are lower on Thursday following a rating downgrade from Bank of America Merrill Lynch. The Texas-based oil and gas corporation was downgraded to NEUTRAL from BUY ahead of Thursday's OPEC meeting in Vienna. Bank of America said that under its long-term price assumption of $80 a barrel for oil, they believe Exxon's fair value is $96 a share, that means there is still an eight percent upside from where shares are currently trading. Exxon rival and Action Alerts Plus holding Schlumberger (SLB) was also down in early trading on Thursday.
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