Goldman Sachs lifts Chevron price target to $241 from $228
Goldman Sachs raised its price objective for Chevron to $241, up from $228, and kept a Buy rating. The firm adjusted its valuation multiples, moving the EV/DACF multiple to 8.5x and the P/E multiple to 15.0x, and revised its EPS forecasts for 2026‑2028. The target increase is also linked to Chevron’s announced $7 billion expansion plan to boost production to 600,000 barrels per day. The stock is trading around $224.37, near its 52‑week high.
Why it matters
Goldman Sachs says the higher target reflects improved valuation and the impact of the expansion, suggesting upside potential for investors. The firm’s Buy rating and revised multiples may influence analyst coverage and investor sentiment toward CVX.
Key facts
- 1Goldman Sachs raised Chevron’s price target to $241 from $228. marketscreener.com
- 2Chevron’s stock was trading at $224.37 at the time of the announcement. marketscreener.com
- 3The EV/DACF multiple was increased to 8.5x, up from 8.0x. investing.com
- 4The P/E multiple was increased to 15.0x, up from 14.5x. investing.com
- 5Goldman Sachs revised EPS estimates to $17.77 for 2026, $15.27 for 2027 and $13.66 for 2028. investing.com
- 6Chevron announced a $7 billion capital program to raise production to 600,000 barrels per day. cristinaiglesias.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.