UPDATE: Cowen Securities Raises PT on Chevron on Strong Sector Performance

Cowen Securities analyst Asit Sen published a report on Chevron CVX that reiterated its Buy rating and raised the price target from $129 to $133. Cowen Securities reported that, “Following CVX analyst meeting we have increased confidence in the company's near/medium term production profile and sustainability of sector-leading operational/financial performance. We are raising our price target to $133 (from $129). CVX remains one of our key investment favorites.” Shares of Chevron closed at $118.25 on Tuesday.