Simmons Upgrades Chevron (CVX) to Overweight
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- After-Hours Stock Movers 10/20: (CERC) (ALKS) (PFPT) (MSFT) Higher; (SKX) (RRGB) (AMD) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Simmons, a unit of Piper Jaffray, upgraded Chevron (NYSE: CVX) from Neutral to Overweight with a price target of $117.00 (from $110.00).
Analyst Guy Baber commented, "Although delivery remains something of a concern and CVX does not offer the deeply discounted valuation that Shell may, we believe CVX is an attractive name at this point of the cycle. CVX offers impressive financial resilience and dividend sustainability alongside leading operational leverage to eventual oil price normalization and a seemingly more sustainable business model. Premium valuation is warranted."
Shares of Chevron closed at $101.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Cuts Price Target on Syntel, Inc. (SYNT) Following Weak 3Q
- Zoe's Kitchen, Inc. (ZOES): Now's Your Chance - Buckingham
- Xilinx (XLNX) PT Bumped to $45 at Nomura, Remains Sidelined
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!