Jan. 22 at 12:10 PM
$CVX On January 20, JPMorgan resumed coverage of Chevron Corporation (NYSE:CVX) with an ‘Overweight’ rating and a price target of
$176, indicating an upside of over 6% from the current levels. Following the completion of the long-awaited Hess merger, the analyst thinks that Chevron is in an attractive phase of its investment cycle. Moreover, the oil major has been working on a structural cost savings program, putting it on track to deliver
$3 billion-
$4 billion in annual run-rate savings by 2026.
