CVX Stock Price: $99 Target (Up From $90) By Cowen

By Amit Chowdhry ● January 20, 2021
  • Chevron Corporation (NYSE: CVX) has received a price target increase from $90 to $99 by Cowen. These are the details.

Chevron Corporation (NYSE: CVX) has received a price target increase from $90 to $99 by Cowen. And Cowen analyst Jason Gabelman is maintaining an “Outperform” rating on the shares.

Gabelman noted that he believes that consensus estimates are not accounting for Chevron’s acquisition of Noble Energy. And Gabelman believes that Chevron will beat estimates and announce a dividend increase, which would help the company outperform its peers.

Back in July, Chevron had announced it was buying Noble Energy in an all-stock deal for $5 billion. And this deal was expected to deliver $300 million in anticipated annual pre-tax synergies.

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