Chevron Corporation (NYSE:CVX) is one of the largest integrated energy companies in the world. The stock hit an all-time peak earlier this year and has surged by over 35% since the beginning of 2026, supported by high energy prices and strong earnings amid the disruptions in the Middle East.
After pulling back over the last few months, Chevron is now bouncing back, and the ****** ysts over at Morgan Stanley expect this rally to continue at full pace. On August 19, the ****** yst firm raised its price target on CVX from $210 to $218, while reaffirming an 'Overweight' rating on its shares. This is up almost 6% from the current levels and even above the stock's all-time high of just under $215 achieved earlier this year.
The bullish outlook comes as Morgan Stanley adjusted its price estimates and targets in the energy sector to reflect the latest 2026 outlooks and current strip prices. The firm believes that integrated energy companies, like Chevron, have not yet rallied as much with the soaring refining margins as the pure-play refiners.
Despite Chevron's impressive YTD performance, its gains pale in comparison with those of refiners like Valero Energy and Marathon Petroleum, whose stocks have each soared by over 100% since the beginning of 2026.
Photo by Luis Ramirez on Unsplash
#Companies #time
After pulling back over the last few months, Chevron is now bouncing back, and the ****** ysts over at Morgan Stanley expect this rally to continue at full pace. On August 19, the ****** yst firm raised its price target on CVX from $210 to $218, while reaffirming an 'Overweight' rating on its shares. This is up almost 6% from the current levels and even above the stock's all-time high of just under $215 achieved earlier this year.
The bullish outlook comes as Morgan Stanley adjusted its price estimates and targets in the energy sector to reflect the latest 2026 outlooks and current strip prices. The firm believes that integrated energy companies, like Chevron, have not yet rallied as much with the soaring refining margins as the pure-play refiners.
Despite Chevron's impressive YTD performance, its gains pale in comparison with those of refiners like Valero Energy and Marathon Petroleum, whose stocks have each soared by over 100% since the beginning of 2026.
Photo by Luis Ramirez on Unsplash
#Companies #time
2 months ago
