Jason Gabelman, an analyst from TD Cowen, maintained the Buy rating on Exxon Mobil (XOM – Research Report). The associated price target was lowered to $125.00.
Jason Gabelman has given his Buy rating due to a combination of factors including a modest increase in Exxon Mobil’s expected earnings per share for the first quarter of 2025. This adjustment reflects a slightly stronger performance in the upstream segment than initially forecasted, despite some eliminations of one-time benefits from the previous quarter. Gabelman also notes that there is limited risk to Exxon Mobil’s stock buyback program through 2026, even when considering lower commodity prices.
Furthermore, Gabelman maintains Exxon Mobil as a top pick, although he has slightly reduced the price target to $125. The decision to uphold the Buy rating is supported by the company’s ability to manage its financials effectively, including maintaining a stable net debt to capital ratio, which is projected to increase moderately by the end of 2026. These factors collectively underscore the positive outlook for Exxon Mobil’s stock performance in the coming years.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $140.00 price target.