The stock price of Chevron…

  • The stock price of Chevron Corporation (NYSE: CVX) increased by over 1% during intraday trading today. This is why it happened.

The stock price of Chevron Corporation (NYSE: CVX) increased by over 1% during intraday trading today. Investors are responding positively to a bullish research report.

Wells Fargo analyst Roger Read upgraded Chevron to an “Overweight” rating from an “Equal-Weight” rating. And the price target was increased from $115 to $140. Read cited strong cash flow generation and yield and cash returns to shareholders amid relatively disciplined capex. And the company also has a solid balance sheet and solid execution.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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