UBS lifts Chevron price target to $235 on stronger refining outlook
UBS raised its price target for Chevron Corp. to $235, up from $220, while keeping a Buy rating. The broker also lifted its third‑quarter 2026 earnings‑per‑share estimate to $4.93 from $4.15 and expects cash flow from operations of $16.3 billion for the quarter. The revision follows higher crude price realizations and better refining margins. Chevron’s shares were trading around $211 in the market.
Why it matters
UBS says the higher target reflects stronger refining margins and a brighter earnings outlook, which could encourage investors to bid up the stock. The firm’s revised EPS and cash‑flow forecasts suggest improved profitability for the quarter.
Key facts
- 1UBS raised Chevron’s price target to $235 from $220. investing.com
- 2UBS increased its Q3 2026 EPS estimate to $4.93, up from $4.15. investing.com
- 3UBS projects cash flow from operations before working capital of $16.3 billion for Q3 2026. investing.com
- 4Chevron’s stock was trading at $205.15 in the Investing.com article. investing.com
- 5Chevron’s stock was trading at $211.16 in the Marketscreener article. marketscreener.com
- 6Chevron’s stock was up 3.09% at $211.49 in the Benzinga article. benzinga.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.