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UPDATE: Morgan Stanley Downgrades Chevron Amid Balanced Risk/Reward

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Tempered By Its Growth, Vetr Issues Downgrade On Chevron

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

Jul 2017CitigroupMaintainsBuy
Jul 2017RBC CapitalReinstatesUnderperform
Jun 2017MacquarieDowngradesOutperformNeutral

View More Analyst Ratings for CVX
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Posted-In: Evan Calio Morgan StanleyAnalyst Color Downgrades Price Target Analyst Ratings


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