Exxon Mobil price target raised to $150 from $133 at UBS

UBS analyst Josh Silverstein raised the firm’s price target on Exxon Mobil (XOM) to $150 from $133 and keeps a Buy rating on the shares. UBS continues to see Exxon Mobil well-positioned to capture strength in crude oil and downstream margins, and tells investors in a research note that the Pioneer Natural (PXD) close in Q2 will be the next key catalyst, followed by an Upstream Spotlight highlighting the visible growth outlook ahead in the Permian, Guyana, and LNG.