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UPDATE: Morgan Stanley Downgrades Chevron Amid Balanced Risk/Reward

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In a note published Monday morning, Morgan Stanley analyst Evan Calio downgraded shares of Chevron (NYSE: CVX) from Overweight to Equal-weight, but raised the price target from $135 to $140.

Calio's downgrade comes amid beliefs that the risk vs. reward of Chevron has become more balanced in the near-term (2015) due to relatively flat production. However, looking ahead, Calio sees "relative outperformance" for the company over the next three years.

Latest Ratings for CVX

DateFirmActionFromTo
Dec 2016Independent ResearchUpgradesHoldBuy
Nov 2016CLSAUpgradesOutperformBuy
Nov 2016Morgan StanleyUpgradesEqual-WeightOverweight

View More Analyst Ratings for CVX
View the Latest Analyst Ratings

Posted-In: Evan Calio Morgan StanleyAnalyst Color Downgrades Price Target Analyst Ratings

 

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