Morgan Stanley Sees Major Growth Projects On-Track for Chevron Corporation

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating and $140.00 price target on

. In the report, Morgan Stanley noted, “We hosted an Investor lunch with CEO and Chairman of CVX, John Watson. Key take-aways included: growth projects on track; plateau-to-peak capex outlook retained; Permian ranks highly within portfolio for capital allocation and US crude exports likely.” Chevron Corporation closed on Monday at $123.49.