Exxon Mobil Corporation (NYSE:XOM) is included among the 12 Best Stocks to Buy for the Long Term.

On January 28, BofA raised its price target on Exxon Mobil Corporation (NYSE:XOM) to $135 from $129, maintaining a neutral rating. After comparing the valuations of European and US integrated oil majors, the firm said the valuation gap favoring US companies is “still exaggerated”. Within the group of five supermajors, BofA said it prefers buy-rated TotalEnergies and Chevron over neutral-rated Exxon and Shell, as well as underrated BP, largely based on relative valuations.

In related news, a January 27 Reuters report said Exxon Mobil and China’s BYD plan to expand their partnership in hybrid vehicle technology. BYD said the two companies signed a long-term strategic memorandum of understanding on Jan. 26, under which they will explore research and development of customized products, potential collaboration in new materials and other areas. Last year, BYD and Exxon jointly launched an engine oil designed specifically for BYD’s plug-in electric vehicles.

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest integrated energy companies, with operations spanning the exploration, production and refining of oil and natural gas. The company also manufactures fuels, petrochemicals, lubricants and advanced plastics, while investing in lower-emissions initiatives such as carbon capture and lithium production.

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