Barclays PLC said it has maintained its "Overweight" rating on Exxon Mobil (NYSE:XOM), and has a price target of $81 on the stock.
"Despite a strong quarter, XOM lost 0.9% yesterday, compared to XLE's gain of 0.1% and S&P500 loss of 0.4%. We were surprised by the share's disappointing performance. XOM reported a headline EPS of $1.60/share, handsomely beating our estimate of $1.50/share and consensus of $1.46/share. Equally important, the company delivered a strong operating result," said the Barclays analyst.
"We raise our 2010 and 2011 EPS to $5.60 and $6.50 from $5.50 and $6.35 per share, respectively."
Exxon closed Friday a little below level, hitting $59.68, down 0.66, or 1.09 percent.
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