Mizuho raised its Exxon Mobil price target to $175 from $159.
The firm maintained its "Neutral" rating on the stock.
Mizuho expects the Iran crisis to prolong impacts on global oil prices and refining cracks.
Consequently, the firm raised its 2026 oil price forecast.
The firm also raised its 2027 oil price forecast.
These conditions create opportunities for investors in the U.S. oil and gas sector.
Mizuho announced the update during Exxon Mobil's 2026 annual shareholder meeting.
The meeting agenda featured a proposal to redomicile the corporation's legal home to Texas from New Jersey.
Geopolitical developments continue to drive oil price volatility.
This volatility pressures the broader energy stock market.