Soleil Securities Maintains a 'Buy' and 'Top Pick' on Chevron Corp. (CVX), Lowers PT & Estimates
CVX Hot Sheet
Rating Summary:8 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 7 | New: 22
Soleil Securities maintains a 'Buy' on Chevron Corp. (NYSE: CVX), lowers price target from $105 to $101.
Soleil analyst says, "We are lowering our earnings estimates for Chevron for 2009 (from $5.30/share to $5.20/share) and 2010 (from $8.90/share to $8.55/share) due primarily to the decline in NYMEX forward curve price assumptions for crude oil, natural gas and refining margins...We maintain our Buy rating, but are reducing our discounted free cash flow derived price target from $105/share to $101/share...Chevron remains our top pick in the integrated oil sector...Additionally, we re-iterate our Overweight rating on the integrated oil sector, which, based upon 2010E EV/EBITDA, is trading at a substantial discount (4.1x) to the average of the stocks in the XNG Index (6.5x) and OSX Index (7.2x), based upon First Call data."
To see more analyst ratings on CVX Click Here.
Chevron Corporation operates as an integrated energy company worldwide.
Soleil analyst says, "We are lowering our earnings estimates for Chevron for 2009 (from $5.30/share to $5.20/share) and 2010 (from $8.90/share to $8.55/share) due primarily to the decline in NYMEX forward curve price assumptions for crude oil, natural gas and refining margins...We maintain our Buy rating, but are reducing our discounted free cash flow derived price target from $105/share to $101/share...Chevron remains our top pick in the integrated oil sector...Additionally, we re-iterate our Overweight rating on the integrated oil sector, which, based upon 2010E EV/EBITDA, is trading at a substantial discount (4.1x) to the average of the stocks in the XNG Index (6.5x) and OSX Index (7.2x), based upon First Call data."
To see more analyst ratings on CVX Click Here.
Chevron Corporation operates as an integrated energy company worldwide.
You May Also Be Interested In
- Goldman Sachs Cuts Numbers on Tiffany & Co. (TIF) after Weak Q1, Guidance
- Barclays Cuts Price Target and Estimates on NetApp (NTAP); Disappointing Qtr, But There Is Hope
- Barclays Reiterates Cautious Stance on hhgregg (HGG); Lowering PT & Estimates
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Soleil Securities, Crude OilSign 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!
