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Wells Fargo upgrades BP to Overweight, downgrades Exxon Mobil amid valuation gap

Verifying
  • Wells Fargo upgraded BP and downgraded Exxon Mobil in a new client note.
  • BP’s target rose to $57 from $48, while Exxon’s remained $182.
  • Wells Fargo sees BP’s financial debt at about $6.2 billion by end-2026.
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