Sep. 10 at 8:59 PM
$CVX Bank of America has hiked its price target for Chevron to
$185 per share in the wake of its successful acquisition of Hess Corporation, suggesting 20% upside from Tuesday’s closing price of
$154.85.
The bank sees Chevron’s free cash flow rising to
$17.40 per share at
$70 per barrel Brent crude by the second half of 2027, more than double the oil major’s free cash flow of
$7.61 per share in 2024 at
$80 per barrel Brent.
