Analyst Suvro Sarkar from DBS maintained a Buy rating on Exxon Mobil (XOM – Research Report) and keeping the price target at $133.00.
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Suvro Sarkar has given his Buy rating due to a combination of factors including Exxon Mobil’s robust financial performance and strategic initiatives. The company’s fourth-quarter earnings exceeded expectations despite challenges in the refining segment, showcasing its strong cash flows and shareholder returns. Exxon Mobil has announced substantial share buybacks and a dividend increase, reflecting confidence in its financial health.
Sarkar also highlights the company’s growth potential with key projects set to begin in 2025, which are anticipated to contribute significantly to earnings by 2026. Additionally, Exxon Mobil’s strategic acquisition of Pioneer Natural Resources strengthens its position in the Permian Basin, enhancing its production capabilities. The company’s focus on emission-reduction goals and investments in low-carbon solutions further support its competitive stance in the energy industry. These factors contribute to the Buy rating with a target price of USD 133, suggesting resilience against market volatility.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $137.00 price target.