TD Cowen Raises PT on Exxon Mobil (XOM) Stock, Maintains Buy

Exxon Mobil Corporation (NYSE:XOM) is one of the Top Energy and Utility Stocks Wall Street Analysts Are Talking About. On June 23, TD Cowen upped its price target on the company’s stock to $128 from $120, while maintaining a “Buy” rating. As per the research firm, Exxon Mobil Corporation (NYSE:XOM) continues to differentiate itself from its peers with the help of technology deployment targeted at improving resource recovery as well as creating deal space. The firm highlighted numerous positive developments for Exxon Mobil Corporation (NYSE:XOM), which include the potential upside to synergies due to the Pioneer Natural Resources acquisition.

Furthermore, it also noted the possibility of a Hess Corporation arbitration ruling before the expiry of a 90-day timeframe. As per TD Cowen’s analyst, Exxon Mobil Corporation (NYSE:XOM)’s Baytown hydrogen project is contingent on regulations that will support the market. This suggests its strategic approach to significant capital investments. In Q1 2025, Exxon Mobil Corporation (NYSE:XOM)’s Energy Products segment saw earnings of $827 million, reflecting an increase of $425 million as compared to Q4 2024 because of stronger North American industry refining margins aided by industry outages, favorable timing effects, as well as lower seasonal expenses.

While we acknowledge the potential of XOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than XOM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.