Piper Sandler raised the firm’s price target on Exxon Mobil (XOM) to $145 from $134 and keeps an Overweight rating on the shares. Second quarter IOC results highlight companies’ relative strength within energy, underpinned by a distinctive mix of growth, resource depth, and sustainable shareholder returns, further supported by an increasingly favorable medium-term refining outlook, the analyst tells investors in a research note.
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