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Wells Fargo Raises Chevron Price Target to $230 and Keeps Overweight

Chevron logoChevron
Sig1.78Sen+2.55Env0.00Soc0.00Gov0.00
Wells Fargo logoWells Fargo
Sig1.05Sen+2.10Env0.00Soc0.00Gov0.00

Wells Fargo increased its price target on Chevron to $230 from $226 and maintained an Overweight rating. The firm updated its model after Chevron announced expansion of its Venezuela joint venture, viewing Venezuela as a potentially growing contributor to Chevron’s differentiated post-2030 resource position over time.

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