TD Cowen Upgrades ExxonMobil (XOM) to Outperform, 'We see more compelling upside'

TD Cowen analyst Jason Gabelman upgraded ExxonMobil (NYSE: XOM) from Market Perform to Outperform with a price target of $115.00.

The analyst comments "We see more compelling upside as the stock has declined with an unchanged valuation. We continue to forecast CFO growth below XOM's guidance, though our forecast has increased through 2023 with incremental company disclosures. XOM's peer-low oil price needed to organically fund the dividend could become a larger investor focus as commodity prices could normalize after a couple very strong years."

For an analyst ratings summary and ratings history on ExxonMobil click here. For more ratings news on ExxonMobil click here.

Shares of ExxonMobil closed at $96.82 yesterday.

You May Also Be Interested In

• New Street Research Upgrades Micron Technology (MU) to Buy
• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy