Exxon cut to Neutral at BofA, which favors Buy-rated Chevron (XOM:NYSE)

Bank of America has downgraded Exxon Mobil (XOM) shares to Neutral from Buy, setting a $158 price target. This downgrade comes as U.S. crude oil futures drop below $80/bbl, contributing to a broader decline in energy stocks. BofA reportedly favors Buy-rated Chevron (CVX) over ExxonMobil.