UBS lowered the firm’s price target on Exxon Mobil (XOM) to $131 from $135 and keeps a Buy rating on the shares. Following Exxon’s Q1 “Earnings Consideration” note, the firm lowered its Q1 EPS forecast to $1.72 from $1.75 previously, noting that this is below the $1.81 EPS implied by the 8-K as the Nigeria joint venture, Argentina, and Fos-sur-Mer refinery divestitures, along with about a $600M quarter-over-quarter headwind related the absence of asset management and tax impacts, were not included in the filing.
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