Street View: Upside in Exxon's tech-forward pivot; policy clouds linger

Exxon Mobil surpassed Wall Street's Q3 earnings expectations on Friday, driven by increased oil and gas output from Guyana and the Permian Basin, which helped counterbalance the impact of lower crude prices

Median PT of 28 brokerages covering the stock is $124.5 - data compiled by LSEG

DUAL PLAY ON DIRT AND DURABILITY

Morgan Stanley ("overweight", PT: $135) said company's execution on key growth projects and proprietary technologies in the Permian, including its patented lightweight proppant, position it for $3 bln in incremental earnings by 2026

J.P.Morgan ("overweight", PT: $124) said Exxon's expansion into battery materials - through tripling Proxxima capacity and acquiring Superior Graphite - could unlock access to a $40 bln market, with early tests showing 30% faster charging and four times longer battery life

RBC Capital Markets ("sector perform", PT: $115) "Policy support for many low-carbon themes has become more questionable"

Morningstar (fair value: $129) said Exxon's structural cost reductions and high-margin volumes continue to support earnings resilience, even amid falling oil prices, with its low debt load providing further downside protection