RBC Raises Chevron's Price Target Amid Improved Commodity Outlook
RBC Capital raised Chevron's price target to $220 from $200, citing an improved commodity price outlook. The move comes as Chevron expands operations in Venezuela through agreements with PDVSA, which may impact its production volumes. The firm also noted sector-wide challenges, including upstream outages and timing-related headwinds.
Topics: Chevron Commodity Outlook Oil Expansion Price Target RBC Capital Venezuela