Chevron price target raised to $174 from $168 at Barclays

Barclays raised the firm’s price target on Chevron (CVX) to $174 from $168 and keeps an Overweight rating on the shares post the Q3 report. The firm says the “standout message” from this quarter is the focus on structural cost savings and spending rationalization as Chevron enters free cash flow harvesting mode across core assets. It expects the market to welcome this next phase.