02:05 PM EDT, 05/02/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $121, cut $8, reflects a 6.4x multiple of enterprise value to projected 2026 EBITDA, in line with XOM's historical forward average. We cut our 2025 EPS estimate by $0.58 to $7.52 and 2026's by $0.40 to $8.97. Following this morning's call, we remain positive on XOM shares. In our view, the company continues to wield three key catalysts: the Permian, Guyana, and structural cost savings. We expect the company to continue growing upstream production via its advantaged assets at a strong pace, and these cost savings, per management, have contributed $4B in quarterly earnings. We think this is a healthy amount given total Q1 2025 non-GAAP earnings of $7.7B. XOM added a hefty number of shares in the PXD merger, but has already bought back 33% of the incremental shares added, and we expect further progress to come. Overall, and notwithstanding headwinds from commodity prices in Q1, we think XOM did a nice job limiting the downdraft on earnings.