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Fly News Breaks for February 22, 2018
CVX
Feb 22, 2018 | 07:39 EDT
Cowen analyst Sam Margolin noted Chevron shares have been under steady pressure since the company reported its Q4 results. The analyst said two factors that have led to the decline are two pillars of the investment thesis; the Australian LNG free cash flow and growth in the Permian basin. The analyst said both are fundamentally intact and he views the pullback as a buying opportunity. Margolin reiterated his Outperform rating and $160 price target on Chevron shares.
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