Chevron: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on Chevron and shares, having raised its target price for them to 190 dollars from 180 dollars after the oil and gas company released its Q1 results last Friday.
Amongst highlights in the publication, the broker points out that Chevron is accelerating its share buybacks, with it now targeting an annual rate of around 10 billion dollars, with the rate of buybacks doubling in Q2 from Q1.
Credit Suisse has also revised its FY 2022 operating EPS estimate to 14.04 dollars from 12.03 dollars to reflect higher commodity prices and stronger refining results.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Amongst highlights in the publication, the broker points out that Chevron is accelerating its share buybacks, with it now targeting an annual rate of around 10 billion dollars, with the rate of buybacks doubling in Q2 from Q1.
Credit Suisse has also revised its FY 2022 operating EPS estimate to 14.04 dollars from 12.03 dollars to reflect higher commodity prices and stronger refining results.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.