UBS analyst Manav Gupta raised the price target on ExxonMobil (NYSE: XOM) to $199.00 (from $185.00) while maintaining a Buy rating.

The analyst commented, "XOM released its 3Q26 Earnings Considerations 8-K. Based on the 8-K, we revise our 3Q26E EPS to $4.14 vs. Street of $3.84 and prior UBSe of $3.27. Upward revisions are largely driven by capture of higher refining margins...Our commodity team has revised the Oil Price forecast. WTI is now expected to average $86.60/bbl in 2026 vs. prior estimate of $79.22/bbl and to average $76/bbl in 2027 vs. prior estimate of $71/bbl. We raise 2026E EPS to $13.35 from $10.90. We raise 2027E EPS to $11.33 from $9.14. We raise 2028E EPS to $12.86 from $12.18."