** Bank of America Securities upgrades rating on oil major Exxon Mobil XOM.N to "buy" from "neutral"

** "XOM’s solid execution in the Permian gives it a clear long-term growth trajectory, and it has plenty to gain from the strait (Strait of Hormuz) reopening even if near term oil prices fall"- BofA Securities

** Brokerage anticipates XOM is poised to succeed in a post-conflict environment, expecting the reopening of shut-in Middle East volumes to generate an additional ~$3.3 billion in annualized free cash flow (at $70/bbl Brent) alongside growth opportunities in the Permian, Guyana, and Venezuela

** 14 of 27 brokerages rate the stock "buy" or higher, 12 "hold" and one "sell"; median PT is $171 - data compiled by LSEG

** Up to last close, XOM up 17.1% YTD