Street View: Analysts see refining windfall boosting ExxonMobil's Q3 results

Exxonmobil Holdings

Mon 11:01

** ExxonMobil XOM.N signaled on Friday higher Q3 refining margins could boost downstream profit by $4.5 bln q-o-q
** 10 of 27 brokerages rate XOM "buy" or higher, 17 "hold"; median PT $180 - data compiled by LSEG

REFINING MARGINS TO DRIVE EARNINGS
** JP Morgan ("overweight") raises PT to $186 from $166; sees significantly stronger energy products margin environment, stronger specialty products quarter outweighing lower liquids prices in upstream business
** Expects management commentary on earnings call to be cautious on 2027, particularly around capital allocation and shareholder returns
** UBS ("buy") sees Q3 record earnings at US energy products business, with XOM Gulf Coast refining footprint benefiting from strong operating and margin environment
** Piper Sandler ("neutral") maintains PT at $185, says stronger refining margins should support Q3 results despite lower liquids realizations, Guyana entitlement impacts and weaker chemicals margins
** Jefferies ("buy,") raises PT to $206 from $200

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))