UPDATE: RBC Capital Upgrades Chevron (CVX) to Outperform

November 24, 2021 3:38 AM EST
Get Alerts CVX Hot Sheet
Price: $116.20 --0%

Rating Summary:
    22 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 14 | New: 41
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(Updated - November 24, 2021 4:27 AM EST)

RBC Capital analyst Biraj Borkhataria upgraded Chevron (NYSE: CVX) from Sector Perform to Outperform with a price target of $145.00 (from $130.00).

The analyst comments "Following our sector thematic “Calling all Generalists”, which outlined our positive stance on the sector, we upgrade Chevron to Outperform. We believe Chevron is in a position to benefit from a strong commodity cycle over the coming years, given its business plans suggest much more stability in its portfolio than peers. We believe this certainty warrants a premium valuation."

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 $116.30 yesterday.

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