Exxon's Stock Revised To $84 Based On Lower Realizations And Capital Spending Cuts

We believe that Exxon Mobil's Trefis adjusted total revenue for the year 2015 will decline by more than 30% as compared to last year and amount to $362.2 billion (Calculated revenue figure not subjected to any intersegment elimination). However, we believe that a gradual recovery in oil prices in subsequent years will lead to a period of growth in Exxon Mobil's revenues and the company's revenues will be close to $520 billion by the end of our forecast period. We have revised our price target fo...