UPDATE: RBC Capital Upgrades Chevron (CVX) to Sector Perform
RBC Capital analyst Biraj Borkhataria upgraded Chevron (NYSE: CVX) from Underperform to Sector Perform with a price target of $95.00.
The analyst comments "We upgrade Chevron to Sector Perform as we see some modest upside to our unchanged $95 Price Target. Following the recent sell-off, Chevron now trades at a slight premium to the sector, which we see as justified given its balance sheet strength and position in the investment cycle."
Shares of Chevron closed at $88.96 yesterday.
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