ExxonMobil shares retain Sector Perform rating on expansion strategy By Investing.com
On Thursday, RBC (TSX:) Capital maintained its Sector Perform rating on shares of ExxonMobil (NYSE:) with a steady price target of $115.00. The firm’s analysis acknowledged ExxonMobil’s strategy to continue expanding its operations in the Permian Basin and Guyana, as well as its LNG business. The company’s capital expenditure is increasingly directed toward new growth areas.
ExxonMobil’s recent update, which was incorporated into RBC Capital’s assessment on Wednesday, includes a capex guidance that the firm has used to adjust its estimates. However, RBC Capital’s earnings projections, particularly in the refining and chemicals sectors, remain below ExxonMobil’s planned figures for the upcoming years.
According to RBC Capital’s…
