Scotiabank Maintains Sector Outperform on Chevron, Lowers Price Target to $163
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng maintains a Sector Outperform rating on Chevron (NYSE:CVX) but lowers the price target from $180 to $163.

October 10, 2024 | 5:09 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Scotiabank has maintained its Sector Outperform rating on Chevron but has lowered the price target from $180 to $163, indicating a more cautious outlook.
The maintenance of a Sector Outperform rating suggests continued confidence in Chevron's performance relative to its sector peers. However, the reduction in the price target from $180 to $163 indicates a more cautious outlook on Chevron's stock price, likely due to changing market conditions or company-specific factors. This could lead to a short-term negative impact on the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100