Exxon Mobil price target raised to $129 from $114 at Scotiabank

Scotiabank raised the firm’s price target on Exxon Mobil to $129 from $114 and keeps a Sector Perform rating on the shares. The target change reflects the firm’s newly published commodity price deck, in which it raised its near- and long-term oil price outlook, as well as valuations across multiple metrics, the analyst tells investors.