Morgan Stanley Trims Exxon Mobil (XOM) Target Ahead of Q1, Sees Limited Upside in Energy Prices

Exxon Mobil Corporation (NYSE:XOM) is included among the Top 10 Reddit Stocks That Will Skyrocket.

Morgan Stanley Trims Exxon Mobil (XOM) Target Ahead of Q1, Sees Limited Upside in Energy Prices

On April 17, Morgan Stanley lowered its price recommendation on Exxon Mobil Corporation (NYSE:XOM) to $171 from $172. It reiterated an Overweight rating on the shares. Heading into Q1 earnings, the firm said most exploration and production companies are likely to keep activity plans unchanged, even with stronger oil prices. It also noted that the sector has now given back all of its March gains. In its earnings preview, the firm added that energy prices are unlikely to return to pre-conflict levels “anytime soon.”

On April 17, BNP Paribas upgraded XOM to Neutral from Underperform, raising its price target to $165 from $125. The firm said “collapsing” oil and product inventories during the Iran war are expected to drive a longer oil price upcycle. It pointed to rising security concerns after the war, OPEC’s need to recover revenue, and limited growth in non-OPEC supply as factors that could support prices in the years ahead. BNP added that major producers such as Chevron and Exxon Mobil are expected to benefit from stronger cash flow as crude prices move higher.

Exxon Mobil Corporation (NYSE:XOM) remains one of the largest publicly traded energy companies globally. It operates across the full value chain, from exploration and production to refining and petrochemicals, while continuing to focus on improving efficiency and lowering costs.

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