Freedom Broker raises ExxonMobil stock price target on refining strength

Investing.com · 2026-11-06 14:44 UTC

Freedom Broker raises ExxonMobil stock price target on refining strength

Investing.com - Freedom Broker raised its price target on ExxonMobil stock (NYSE:XOM) to $162 from $142 while maintaining a Hold rating on the shares. The stock currently trades at $165.65, down 11.7% over the past week despite a strong 40% year-to-date gain. InvestingPro data suggests the stock remains undervalued at current levels, with analysts setting price targets as high as $213.

The firm cited the company’s strong third-quarter results driven by record-high refining margins. ExxonMobil is the largest US oil and gas company.

Net debt fell by $9.7 billion in the quarter. The company spent $5.1 billion on buybacks during the period.

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