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.

While we acknowledge the risk and potential of XOM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XOM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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