Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein

Exxon Mobil Corporation (NYSE:XOM) is included among the 10 Best US Stocks to Invest in According to Billionaires.

Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein

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Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

On May 11, Bernstein analyst Bob Brackett lowered the firm’s price target on Exxon Mobil Corporation (NYSE:XOM) from $195 to $182, but maintained an ‘Outperform’ rating on the shares. The revised target represents a downside of almost 21% from the current levels.

Bernstein acknowledges that the global oil market could take a multitude of paths in the current geopolitical scenario, including the extreme possibility that the Hormuz waterway could remain closed for years. However, the firm updated its models assuming a return to normal conditions by the mid of this year.

On the other hand, UBS turned more bullish on Exxon Mobil Corporation (NYSE:XOM) and raised its price target on the stock on May 4 (read more details here).

Exxon Mobil Corporation (NYSE:XOM) reported better-than-expected earnings in its Q1 results on May 1, helped by the higher output in Guyana and the Permian Basin. However, the company’s net income dropped to its lowest level ​in five years due to global supply disruptions amid the Middle East conflict. The company revealed that around 15% of its production is impacted by the war.

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