These Analysts Revise Their Forecasts On Chevron After Q3 Earnings
Portfolio Pulse from Lisa Levin
Chevron Corp reported weaker-than-expected Q3 earnings, with adjusted EPS of $3.05, missing the consensus of $3.75. However, it beat revenue expectations with $54.1 billion against the consensus of $51.44 billion. Following the announcement, Raymond James lowered its price target from $200 to $175, while B of A Securities raised its target from $190 to $200 and upgraded the stock from Neutral to Buy.
October 30, 2023 | 6:49 pm
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NEUTRAL IMPACT
Chevron's Q3 earnings missed expectations but outperformed on revenue. Analysts have revised their price targets, with a notable upgrade from B of A Securities.
Chevron's mixed Q3 results have led to revised price targets from analysts. While the earnings miss could negatively impact the stock, the revenue beat and the upgrade from B of A Securities could provide a counterbalancing positive effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100