Exxon's $8.6 billion profit beats as record output offsets weak fuel prices
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Barclays Reiterates Overweight Rating on ExxonMobil (XOM)
November 4, 2024 4:52 AM ESTBarclays analyst Jeanine Wai reiterated an Overweight rating and $137.00 price target on ExxonMobil (NYSE: XOM).
The analyst comments "Our take: The downstream-driven 3Q earnings beat highlights the advantages of XOM's integrated portfolio to compete even in a weak margin environment, helped by execution on its structural cost savings, strategic project start-ups, and portfolio high-grading over the past few year. In upstream, XOM continues to see momentum in the Permian with PXD synergies... More
