Soleil Securities Maintains a 'Buy' on Chevron (CVX); Raises PT & Estimates
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Soleil Securities maintains a 'Buy' on Chevron Corp. (NYSE: CVX), raises price target from $101 to$103.
Soleil analyst says, "We are raising our earnings estimate for Chevron for 2010 (from $8.55/share to $8.65/share) due to the increase in NYMEX forward curve prices for crude oil, which more than offset lower U.S. natural gas price assumptions...Over the past 2 weeks, the NYMEX forward curve prices for crude oil have increased by 2%, U.S. natural gas has fallen 7% and refining margins have decreased 3%, on average for 2010-2012."
To see all the upgrades/downgrades on shares of CVX, visit our Analyst Ratings page.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and International subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations of coal and other minerals, power generation and energy services.
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CVX
HRSANJR on Nov 23, 2009 10:34 AMGREAT COMPANY