The price of oil may still move lower, but Exxon Mobil has far less downside than upside, said Tom Forester, portfolio manager for the Forester Value Fund. Forester added that Exxon may have seen its earnings fall about 20% in its most recent quarter and slash its buyback program, yet the stock declined far less than the price of oil which gives it a good risk/return profile. He said he is bullish on drugmaker Mylan especially after it added Abbott’s generic drug business which will lower its taxes. Finally, Forester is positive on Jarden because it has great brands and strong fundamentals.
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