Analysts at Jefferies increased their oil price view as well as their ratings on Eni and Exxon Mobil. They lifted their long-term Brent oil /zigman2/quotes/209704782/delayed UK:BRN00 +1.27% forecast to $58 from $55, citing recovering demand as the vaccination rollout continues and a lower supply risk from the high levels of OPEC+ spare capacity. They lifted Eni /zigman2/quotes/209584888/delayed IT:ENI +1.04% to buy from hold, citing the dividend yield and the potential to spin off its biofuel business. Exxon /zigman2/quotes/204455864/composite XOM -0.60% was upgraded to hold from underperform, on a improved macro environment, though they said Chevron's /zigman2/quotes/205871374/composite CVX -3.67% investment case was more compelling, combining a higher cash flow yield and higher upstream growth potential.











