Exxon Mobil price target raised to $142 from $138 at Wells Fargo

Wells Fargo raised the firm’s price target on Exxon Mobil to $142 from $138 and keeps an Overweight rating on the shares. Based on follow-up sell side call, the firm believes the Q1 2024 was mostly due to unusual non-cash items, thus no change to Wells’ positive outlook.