ExxonMobil (XOM) PT Raised to $120 at HSBC

HSBC analyst Kim Fustier raised the price target on ExxonMobil (NYSE: XOM) to $120.00 (from $119.00) while maintaining a Hold rating.

The analyst commented: "Retain Hold; raise TP to USD120; relative valuation improving: We leave our 2025-27 estimates broadly unchanged post 2Q25. Our TP implies c9% upside and we retain our Hold rating as we believe the shares are fairly valued. Exxon's superior financial performance appears largely reflected in its valuation vs peers, with a 50% premium vs Supermajors on 2025-26e P/CF. However, its premium has been eroding in recent months, improving the relative attractiveness of XOM's shares.'

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