Piper Sandler Maintains Overweight on Exxon Mobil, Lowers Price Target to $130
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Ryan Todd maintains an Overweight rating on Exxon Mobil (XOM) but lowers the price target from $142 to $130.
March 14, 2024 | 2:23 pm
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Piper Sandler maintains an Overweight rating on Exxon Mobil but lowers the price target from $142 to $130.
While the reduction in price target from $142 to $130 by Piper Sandler could be perceived negatively, the maintenance of an Overweight rating suggests a continued positive outlook on Exxon Mobil's stock. The adjustment in price target reflects a recalibration of expectations rather than a fundamental shift in the company's prospects. Investors might see this as a minor adjustment in the short term, balancing the positive outlook with a more conservative valuation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100