Exxon Mobil price target raised to $140 from $136 at BofA

BofA analyst Doug Leggate raised the firm’s price target on Exxon Mobil to $140 from $136 and keeps a Buy rating on the shares. The company’s "solid" Q4 earnings keep Exxon Mobil on track for its 2027 strategic plan, said the firm, which thinks in that context that "it is perhaps not surprising that management will forego a ‘strategy update’ this Spring – despite this being the first time that such an event would be skipped." BofA sees expansion in free cash flow from projects secured at the bottom of the last oil cycle separating Exxon from peers and supporting capacity for outsized share buy backs.