Zacks Research upgraded Exxon Mobil from "hold" to "strong-buy" on April 23, 2026.
Scotiabank raised its XOM price target to $163. Scotiabank also shifted its rating to "sector outperform."
Analysts cite production growth and Guyana operations as primary drivers. Ongoing low-carbon investments also influence the outlook.
Gabon expects to sign production-sharing contracts with Exxon and BP within months. These agreements aim to expand upstream volumes.
The overall consensus rating for Exxon Mobil remains "Moderate Buy."