UBS has adjusted its price target for Exxon Mobil (XOM, Financial), reducing it from $135 to $131, though it continues to uphold a Buy rating on the company’s stock. This revision follows a comprehensive analysis of Exxon's first-quarter earnings expectations.
For the upcoming quarter, UBS has also revised its earnings per share (EPS) prediction for Exxon, lowering it to $1.72 from an earlier estimate of $1.75. This revision falls short of the $1.81 EPS suggested by Exxon's 8-K filing. Factors contributing to this adjustment include the exclusion of certain transactions and events from the filing, such as divestitures in Nigeria and Argentina, and the sale of the Fos-sur-Mer refinery.
Additionally, the absence of asset management and tax-related impacts, which collectively presented a $600 million headwind compared to the previous quarter, played a significant role in influencing the revised forecast.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 24 analysts, the average target price for Exxon Mobil Corp (XOM, Financial) is $126.44 with a high estimate of $144.00 and a low estimate of $105.00. The average target implies an upside of 22.59% from the current price of $103.14. More detailed estimate data can be found on the Exxon Mobil Corp (XOM) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, Exxon Mobil Corp's (XOM, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Exxon Mobil Corp (XOM, Financial) in one year is $95.99, suggesting a downside of 6.93% from the current price of $103.14. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Exxon Mobil Corp (XOM) Summary page.
