XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis That brought economic recession and a decrease in both demand and price of oil Later, XOM established a double bottom after retesting the lows of the pandemic And now it is surging. I think that buying XOM is a bet on the economic recovery Which will happen eventually The target of 65-67$ is very realistic As this is the minimum of what the company should be worth without outperforming I would say, that 65$ is the price which will be achieved by just getting the demand for oil back to normal Without any further increase in oil prices. (As there is plenty of ready to go supply, so the new demand will be covered easily and so the oil price will remain stable as the oil companies revenue will grow! Therefore, Long XOM.
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