Exxon Mobil is trading at a discount, making now a good time for investors to pick up shares, according to Bank of America. The bank upgraded the oil and gas name to buy from neutral. It also set a $154 price target on shares, implying 9% upside from Monday’s close. “Exxon’s recent share price pullback leaves it … with minimal fundamental downside while maintaining upside optionality should an Iran deal stall and commodity prices rise,” analyst Jean Ann Salisbury said Monday in note to clients. Shares are down nearly 17% in the second quarter and they have fluctuated widely since the start of the Iran war on Feb. 28 in tandem with oil prices. The stock also trades at a trailing price-to-earnings ratio of 23.8, well below rival Chevron’s 31.3 multiple, according to FactSet. The stock also fell more than 4% on Monday as the U.S. signaled that it had reached an agreement to end the war with Iran. XOM 1D mountain Shares fell more than 4% on Monday. Salisbury pointed out that shares are lower now than they were when the conflict began, “despite clear net upside from the war’s impacts.” He added that the stock is well positioned whether there’s a resolution to the war, or if tensions increase again. That’s because Middle East uncertainty could give Exxon “more negotiating power in Qatar and other Middle East countries going forward as more countries seek to open up development.” Wall Street firms are split on Exxon. Of the 27 analysts covering the stock, 13 have a buy or strong buy rating on it, LSEG data shows. Another 13 analysts have a hold on Exxon, while one has an underperform rating on shares.