Chevron Stock Has 29% Upside, According to 1 Wall Street Analyst
A Mizuho Financial analyst recently reiterated a "buy" rating on Chevron (NYSE: CVX) and increased the price target from $195 to $200.
The move follows from a Piper Sandler analyst recently reiterating an "overweight" rating on the stock with a $180 price target. The stock currently trades at just under $155, so both price targets suggest substantial upside potential. For example, the Mizuho target implies a 29% upside over the next 12 months or so. When you add in the 4.2% dividend yield, the potential return by this time next year could be 33.5%.
The Mizuho upgrade comes with a positive view of Chevron's reserves and factors in the successful acquisition of Hess (NYSE: HES) in a base-case scenario.
Source Fool.com