Bull Case for Chevron: Piper Sandler Analyst on $180 Target Price
Friday, 15 March 2024, 12:40
'Is Chevron Stock Going to $180?'
Oil majors continue to look like a good value even as the price of oil hovers around $80 a barrel. It's been an unusual year for the oil exploration and production (E&P) sector. Significant players like Chevron, Occidental Petroleum, ExxonMobil, and Devon Energy have notably underperformed the S&P 500 index.
The bull case for Chevron
- Piper Sandler's argument repeats the fundamental case for oil majors, with Chevron's strong cash flow and potential acquisitions supporting a positive outlook.
- Chevron's positioning in the current market environment, coupled with disciplined production practices, sets it apart from its past performance.
- Investment opportunity exists for long-term investors bullish on Chevron's growth potential and the price of oil.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.