- BofA Merrill Lynch has become more optimistic on the energy sector, on both a small and large cap basis, citing attractive valuations, a performance that has lagged behind the rebound in oil prices, and analysts beginning to revise earnings expectations higher.
- Savita Subramanian and her analyst team remain biased toward the “big, old and ugly” energy stocks - the mega-cap leaders which have shown long-term staying power and that typically pay outstanding dividends.
- Their four favorites: COP, XOM, HES, OXY