Morgan Stanley Raises Exxon Mobil (XOM) Price Target, Keeps Overweight Rating

Exxon Mobil Corporation (NYSE:XOM) is one of the 12 Best American Energy Stocks to Buy Right Now. On August 4, Morgan Stanley increased its price target for Exxon Mobil Corporation (NYSE:XOM) from $134 to $135 while keeping an Overweight rating on the stock.

This decision came after the company reported its Q2 earnings per share results, which surpassed consensus estimates.

Morgan Stanley pointed out that Exxon Mobil Corporation (NYSE:XOM) has 10 major capital projects planned for 2025. These projects are on schedule and within the company’s budget. Six of these projects are already up and running.

According to Morgan Stanley analysts, these capital projects are expected to help Exxon Mobil Corporation (NYSE:XOM) grow its earnings by over $3 billion into next year.

Exxon Mobil Corporation (NYSE:XOM) is an American energy and petrochemical company that manages an industry-leading portfolio of resources.

While we acknowledge the potential of XOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.