Exxon Mobil price target raised to $133 from $125 at Wells Fargo

Wells Fargo raised the firm’s price target on Exxon Mobil to $133 from $125 and keeps an Overweight rating on the shares. The analyst shift the model to 2025 and says the outlook remains positive based on attractive shareholder returns, modest volume growth and "restrained" capex increases. Wells sees a favorable cash flow trajectory through 2025 for Exxon.