Market Overview

UPDATE: Morgan Stanley Raises PT on Chevron Corporation on Expected Growth

Share:
Related CVX
Stock Market News for June 26, 2017
Dow 30 Stock Roundup: Boeing Bags Big Orders at Paris Air Show; Wal-Mart to Buy Bonobos

In a report published Wednesday, Morgan Stanley analyst Evan Calio reiterated his Overweight rating on Chevron Corporation (NYSE: CVX), and raised his price target from $120.00 to $130.00.

In the report, Calio noted, “CVX will likely increase midstream divestitures availing strong MLP buyer markets. We believe a significant portion of US midstream assets will prove to be non-strategic and monetized in newly formed midstream business segment. As capital spending peaks in 2013-2014, we expect the current cash balances ($10Bn) will be reduced to normal levels; however, we expect CVX will raise its dividend in line with historical averages, outpacing XOM in 2013.”

Chevron Corporation closed on Tuesday at $118.25.

Latest Ratings for CVX

DateFirmActionFromTo
Jun 2017MacquarieDowngradesOutperformNeutral
Jun 2017HSBCUpgradesHoldBuy
May 2017Exane BNP ParibasDowngradesNeutralUnderperform

View More Analyst Ratings for CVX
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (CVX)

View Comments and Join the Discussion!