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$XOM: BMO PT Hike to $170 Underscores Guyana Upside vs. Refining Drag
BMO raises price target to $170, citing robust Guyana production growth offsetting near-term refining margin compression.
Key Points
- BMO raises $XOM PT to $170 from $160, maintaining Market Perform rating.
- Guyana production growth is the primary upside driver, offsetting refining weakness.
- Stock trades at $159.07, offering ~6% upside to the new analyst target.
- Capital discipline and shareholder returns remain central to the investment thesis.
What To Watch
- Next quarterly production guidance for Guyana assets.
- Refining margin trends in the upcoming earnings report.
- Crude oil price stability and its impact on $XOM’s realized prices.