US stock futures edge lower after S&P 500 hits record high; PCE data in focus
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 data, the stock appears undervalued based on its Fair Value analysis, with 5 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 a strong financial health score of "GOOD" on InvestingPro, supported by its impressive EBITDA of $62.38 billion.
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 strategic initiatives and projected earnings trajectory.
In other recent news, ExxonMobil reported its second-quarter results for 2025, surpassing Wall Street expectations. The company achieved an earnings per share of $1.64, exceeding the forecasted $1.56. Additionally, revenue reached $81.5 billion, which was above the anticipated $80.78 billion. These results followed the company’s July 7 8-K filing, which had indicated a positive outlook. In light of these developments, Morgan Stanley adjusted its price target for ExxonMobil, increasing it to $135 from $134 while maintaining an Overweight rating. These updates reflect ExxonMobil’s ongoing project progress and financial performance.
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