Morgan Stanley Lowers Growth Outlook on Exxon Mobil Corporation

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Underweight rating and $90.00 price target on Exxon Mobil Corporation 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 Corporation closed on Wednesday at $93.80.