Deutsche Bank Forecasts Chevron Corporation EPS of $2.21

In a report released this morning, Deutsche Bank said that if crude prices rise and the US$ falls, Chevron Corporation's

earnings will take a hit. “4Q will be far more neutral in this regard and we now forecast EPS of $2.21,” Deutsche Bank writes. “As implied above, after the sustained underperformance of the past year, we now think XOM has a recovery run, with better volumes, good chemicals and higher buyback.” Chevron Corporation closed Friday at $82.60.