UPDATE: Jefferies Starts Chevron (CVX) at Buy

Jefferies initiated coverage on Chevron (NYSE: CVX) with a Buy rating and a price target of $140.00.

Analyst Jason Gammel said, "We are initiating coverage of Chevron Corporation (CVX) with a Buy rating and $140 price target based on our DCF analysis. We believe that Chevron has the best medium-term growth prospects in the integrated oil sector, its valuation parameters are attractive, and the dividend provides downside support. Chevron's growth projects have high margins that are accretive to its industry-leading position."

For an analyst ratings summary and ratings history on Chevron click here. For more ratings news on Chevron click here.

Shares of Chevron closed at $117.34 yesterday.

You May Also Be Interested In

• GE Vernova (GEV) PT Raised to $1,185 at Jefferies
• Clear Secure Inc (YOU) PT Lowered to $45 at DA Davidson
• Piper Sandler Starts Fidelity National Information Services (FIS) at Neutral