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Investing.com - Morgan Stanley (NYSE:MS) has raised its price target on ExxonMobil (NYSE:XOM) to $135.00 from $134.00 while maintaining an Overweight rating on the stock. According to InvestingPro analysis, ExxonMobil appears undervalued at its current price of $107.36, with five analysts recently revising their earnings estimates upward.
The price target adjustment follows ExxonMobil’s second-quarter earnings per share results, which exceeded consensus estimates and came in slightly above the midpoint indicated in the company’s July 7 8-K filing. The company maintains strong financial health with an EBITDA of $62.38 billion and has demonstrated its commitment to shareholder returns through a 42-year streak of dividend increases, currently yielding 3.61%.
Morgan Stanley noted that ExxonMobil’s 10 major capital projects planned for 2025 remain on schedule and within budget, with six projects already operational.
These capital projects are expected to underpin more than $3 billion in earnings growth for the company into next year, according to the investment bank.
The firm’s $1 increase in price target reflects confidence in ExxonMobil’s execution of its project pipeline and the resulting projected earnings growth.
In other recent news, Exxon Mobil Corp. reported its second-quarter results for 2025, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $1.64, exceeding the forecasted $1.56. Additionally, revenue reached $81.5 billion, which was higher than the anticipated $80.78 billion. Despite these positive financial results, the company’s stock experienced a slight decline in pre-market trading. These developments reflect the company’s performance amidst the broader market dynamics. Investors and analysts will be watching closely as Exxon Mobil continues to navigate the evolving economic landscape.
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