Deutsche Bank Comments On Chevron After Trip To Tengiz Oilfield (CVX)

In a recent report, Deutsche Bank has commented on Chevron after the company's trip to the Tengiz oilfield in Kazakhstan. In the report, Deutsche Bank said, "The main takeaway from the trip was the scale and capital intensity; the quality & power of the carbonate reservoir. Key incremental positive: of the three Kazakh mega projects this is best as regards local government relations; 90% of staff are local." Deutsche Bank has maintained a $115.00 price target on Chevron and a Hold rating on the company. Chevron closed Friday at $102.39.