Barclays Maintains an 'Overweight' on Chevron (CVX); Raises Estimates on Q2 Interim Update

Barclays maintains an 'Overweight' on Chevron (NYSE: CVX) price target of $133.00.

Analyst, Paul Y. Cheng, said, "We raise our 2Q12 EPS estimates to $3.34 from $3.25 previously to reflect a $200 million FX gain in the upstream segment and a $200 million inventory gain, partially offset by higher corporate expenses of an increase of $150 million in our earnings estimate. In addition, we modestly increase our FY 2012 EPS estimate to $11.90 from $11.85 previously." (FY13 from $11.00 to $11.05)

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 $104.85 yesterday.

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