Referenced Stocks

Analyst Actions: Chevron Corp. Target Cut $5 at Credit Suisse; Shares Rise 1% in Midday Trade

By Midnight Trader,  December 06, 2012, 12:23:06 PM EDT

Analysts at Credit Suisse have reduced the price target on shares of Chevron Corp. ( CVX ) to $130 from $135, while also lowering their earnings estimates on the oil giant.

"CVX is intent on progressing large scale projects, but this crowds out investment in even higher return liquid rich shale," said Credit Suisse. "CVX does have a large liquid rich acreage position in North America - there needs to be a balance between long life vs. returns."

The firm lowered its 2012, 2013, 2014 EPS estimates to $12.21, $13.38 and $13.76, from $12.22, $13.61 and $13.96 respectively.

CVX is up 0.82% to $106.03, within a 52-week range of $95.73 - $118.53.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: CVX



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