1. Goldman Sachs cut XOM price forecast from $125 to $123. 2. Company's Q4 upstream earnings expected to drop by $(0.9)B to $(0.5)B. 3. EPS estimates downgraded for 2024-2026 due to market conditions. 4. Analyst maintains a Neutral rating amidst solid execution and returns. 5. XOM shares down 1.28% at $108.74.
The price forecast cut and earnings reduction reflect negative sentiment, impacting investor confidence. Past examples show similar downgrades often lead to short-term price declines.
The article impacts XOM's market perception significantly, especially with forecast changes. Analyst reviews can influence trading and investment strategies.
The forecast adjustments and earnings expectations will likely affect XOM's stock performance in the near term. Historically, such revisions lead to immediate market reactions.