Goldman reiterates buy rating on Exxon following earnings, likes it better than Chevron

A view of the Exxon Mobil refinery in Baytown, Texas.
Jessica Rinaldi | Reuters

Goldman reiterated its buy rating on shares of Exxon following the company's first-quarter earnings results, with the firm pointing to the oil giant's improving balance sheet.

Analysts also noted that improving commodities prices as well as a global economic recovery are supportive for Exxon.

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