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'Halftime Report' Traders Share Their Thoughts On Chevron

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On CNBC's "Fast Money Halftime Report," traders discussed a bullish call on Chevron Corporation (NYSE: CVX). MKM initiated the stock with a Buy rating and a price target of $121.

Jim Lebenthal can't say that today is a day when you need to buy the energy stocks. Investors who are planning to do so, should pick only high-quality names like Chevron, explained Lebenthal. He can't see a catalyst for a move higher.

Amy Raskin said the relative underperformance of the energy stocks has been unbelievable dramatic and it's hard to think there is much more to go. She thinks the sector is going to come back and this is the first year that her company is overweight the energy sector. She believes that the risk-reward makes a lot of sense.

 

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