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Fly News Breaks for March 20, 2018
CVX
Mar 20, 2018 | 07:03 EDT
JPMorgan analyst Phil Gresh says the pullback in Chevron shares to below $115 brings a favorable entry point. The analyst sees a "balanced long-term story" around production growth, free cash flow generation, and return of capital through at least 2022 with "fairly low execution risk." The analyst believes the "penalty box" following the "messy" Q4 will be temporary. He raised his price target for Chevron to $135 from $130 and keeps an Overweight rating on the shares.
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