Scotiabank Downgrades Chevron to Sector Perform, Announces $170 Price Target
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng downgraded Chevron (NYSE:CVX) from Sector Outperform to Sector Perform and set a price target of $170.
January 16, 2024 | 7:56 pm
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NEGATIVE IMPACT
Chevron was downgraded by Scotiabank from Sector Outperform to Sector Perform with a price target of $170.
Downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The new price target, while potentially lower than the current trading price, reflects the analyst's revised expectations for the stock's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100