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Citigroup raises PT on key US energy companies

ReutersApr 2, 2026 11:55 AM

Citigroup raises price target on U.S. energy companies, citing a longer-term return of investor interest in oil and gas

Brokerage says the energy sector still dominates global energy demand, while renewables remain a small share

Energy stocks outperformed oil prices and the broader market, showing investors are starting to view oil and gas as a growth sector again despite lower buybacks - Citigroup

Brokerage raises PT on the following companies:

Company

Old PT

New PT

Upside/downside to the stock last close

Exxon Mobil XOM.N

$150

$175

8.8% upside

Chevron CVX.N

$210

$235

19% upside

ConocoPhillipsCOP.N

$135

$150

16.8% upside

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