Barclays Maintains an 'Equalweight' on ExxonMobil (XOM); Preview of Analyst Day

Barclays maintains an 'Equalweight' on ExxonMobil (NYSE: XOM) price target of $93.00.

Analyst, Paul Y. Cheng, said, "Production Outlook: we expect the company's 2012 production to come in at 4,418 mboe/d, compared to the 2011 level of 4,507 mboe/d. Between 2011 and 2016, we forecast 1.1% production growth."

"2012 capital budget: We currently estimate the company will spend $37.8 billion, compared to the $36.8 billion in 2011 (capital spending for the consolidated cash flow statement of $32.0 billion from $31.0 billion in 2011)."

Cheng believes analyst day won't have any ground-breaking news and will likely be a non-event for shares.

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 $87.01 yesterday.

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