BUZZ-Street View: Exxon to grow, but concerns remain over spending, chemicals unit

Exxon Mobil XOM.N on Friday posted mixed Q4 results that showed weakness in its refining and chemicals business, though it beat profit estimate with higher oil and gas output

Average rating of 28 brokerages covering the stock is a buy; median PT $130 - data compiled by LSEG

WALKING A TIGHTROPE

Morgan Stanley ("overweight," PT: $141) says XOM's scale and integration across the energy, chemicals, and emerging low-carbon value chains support sustainable competitive advantages and above-average growth

Morningstar (fair value: $135) says although higher spending by an oil company can be concerning, company's strong track record and quality portfolio should ease those worries

TD Cowen ("buy," PT: $128) says higher commodity prices might help XOM; says production could rise due to divestments and growth from the Permian oil field

RBC ("sector perform," PT: $115) says it expects the downstream earnings drivers to remain challenged, especially in the chemicals segment

Brokerage says company will continue to face difficulties, with talk about tariffs and trade wars expected to cloud outlook