TD Cowen raises PT on Exxon Mobil

ReutersJun 23, 2025 1:50 PM

TD Cowen raises price target on oil and gas major Exxon Mobil XOM.N to $128 from $120, maintains "buy" rating

New price target represents a 11.6% upside to the stock's last close

Brokerage says XOM is differentiating itself from peers on technology deployment to improve resource recovery and create deal space

"Incremental data points included upside to Pioneer Natural Resources synergies, potential for Hess arbitration ruling before 90-day clock, and Baytown Blue Hydrogen project contingent on regulations supporting market" - TD Cowen

16 of 27 brokerages rate the stock "buy" or higher, 10 "hold" and 1 "sell"; median PT is $124.50 - data compiled by LSEG

Including sessions moves, stock up 7.7% YTD

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