Market Overview

Morgan Stanley Lowers Growth Outlook on Exxon Mobil


In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Underweight rating and $90.00 price target on Exxon Mobil (NYSE: XOM).

In the report, Morgan Stanley noted, “XOM lowered its growth outlook, leaving expectations for material asset sales unmet. Production guidance was lowered and ‘14 capex was higher than expectations. The key focus was '14-17 FCF inflection, yet XOM needs +$11Bn inflection to support distributions w/o leverage.”

Exxon Mobil closed on Wednesday at $93.80.

Latest Ratings for XOM

Nov 2020Credit SuisseMaintainsNeutral
Oct 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020Goldman SachsUpgradesSellNeutral

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