Exxon Mobil Corp. (XOM) Upgraded To Buy

Shares of Exxon Mobil Corp. (NYSE: XOM) were up slightly on Monday after the stock was upgraded to Buy with a price target of $80 by Collins Stewart.

"We believe Exxon Mobil's recent share-price slide and its defensive qualities tip the risk-return balance in Exxon's favor, substantiating our increasingly positive view on the stock," wrote Collins Stewart analyst Katherine Lucas Minyard. "At this point, we see Exxon as offering the most compelling risk-reward balance in our coverage universe."

Minyard said that after falling 11% since the announcement that Exxon Mobil Corp. would acquire XTO Energy Inc. (NYSE: XTO), that negative sentiment for Exxon Mobil had gone too far.

Minyard cited Exxon Mobil's AAA credit rating and its strong cash flow and balance sheet.