Jefferies Bumps Price Target on ExxonMobil (XOM) Higher

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Jefferies lifted its price target on ExxonMobil (NYSE: XOM) from $80 to $85 but kept its Hold rating on the stock.

"After a good 2011 we believe the global majors should again perform well in 2012, given our expectation of strong oil price," the firm said.

For an analyst ratings summary and ratings history on ExxonMobil click here. For more ratings news on ExxonMobil click here.

Shares of ExxonMobil closed at $85.08 yesterday, with a 52 week range of $67.03-$88.23.

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