Exxon Mobil price target lowered to $171 from $172 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Exxon Mobil (XOM) to $171 from $172 and keeps an Overweight rating on the shares. Heading into Q1 earnings, the firm says most exploration and production companies are likely to keep activity plans unchanged despite stronger oil. While noting that the sector has now reversed all of its March gains, the firm adds in its earnings preview for the group that energy prices are unlikely to revert back to pre-conflict levels “anytime soon.”