Wells Fargo lowered the firm’s price target on Chevron (CVX) to $173 from $184 and keeps an Overweight rating on the shares. The firm’s downwardly revised Q1 2025 EPS estimate of $2.04 mainly reflects higher Upstream DD&A, the absence of Q4 tailwinds and stronger Downstream expectations.
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Read More on CVX:
- BNP Paribas Exane downgrades Chevron on cautious oil view
- Positive Outlook for Chevron: Buy Rating Maintained Amid Strategic Moves and Strong Downstream Margins
- Chevron downgraded to Neutral from Outperform at BNP Paribas Exane
- BP Stock (NYSE:BP) Strikes it Rich in the Gulf of America
- CVX, SHEL, BP: OPEC+ Lowers Oil Demand Forecast as Trade Wars Hurt Global Economy
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