Chevron (CVX) Stock Price Target Upped at Deutsche Bank
NEW YORK (TheStreet) -- Chevron's (CVX) - Get Report stock price target was hiked to $120 from $103 at Deutsche Bank in a note released earlier today.
The firm, which has a "buy" rating on the stock, anticipates a "relatively constructive quarter" for U.S. oil and gas exploration and production companies despite near-term headwinds that create uncertainty around crude fundamentals going into 2017.
Deutsche Bank's areas of focus are the use of discretionary cash flow and resource revisions and de-risking.
Shares of the energy giant advanced 1.32% to $106.78 today as oil and gas prices rallied alongside global equity markets.
Oil prices further benefited from a weaker dollar, which makes dollar-denominated commodities such as oil more affordable to foreign buyers.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Chevron's strengths such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins.
You can view the full analysis from the report here: CVX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.