Scotiabank and Wolfe Research Cut Exxon Mobil (XOM) Price Targets

Exxon Mobil Corporation (NYSE:XOM) is one of the 12 Best American Energy Stocks to Buy Now. On January 16, Scotiabank reduced its price target on Exxon Mobil Corporation (NYSE:XOM) from $155 to $128 and maintained its Outperform rating on the stock.

The research firm is updating its price targets for US integrated oil companies, refining companies, and large-cap exploration and production stocks that it covers. Scotiabank expects quarterly earnings to be straightforward, as there were no major winter weather disruptions. Looking ahead, the firm also believes that investors will focus on whether recent market volatility will lead to changes in companies’ 2026 guidance and whether any exploration and production companies will introduce cost-cutting programs.

In other news, Wolfe Research also lowered its price target on Exxon Mobil Corporation (NYSE:XOM) from $141 to $140 and kept an Outperform rating on the stock. The firm sees Exxon Mobil Corporation (NYSE:XOM) as one of the top performers in the oil sector heading into 2026, citing solid execution and attractive valuation compared to peers.

Wolfe Research also noted that the company is showing strong momentum and the potential for faster free cash flow growth. The firm views Exxon Mobil Corporation (NYSE:XOM) as undervalued with best-in-class visibility and a good execution record that has consistently outperformed targets.

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.