Chevron Mediterranean Subsidiary Reaches Final Investment Decision (FID); Scotiabank Raises Price Target

Chevron Corporation announced that its subsidiary, Chevron Mediterranean Limited (CML), and its partners reached a Final Investment Decision (FID), following which Scotiabank raised its price target on CVX shares.

• Scotiabank increased the price target to $168 (up from $165), reaffirming a Sector Perform rating.
• The FID signals a significant operational commitment in the energy sector.
• The stock closed the day at $166.26, trading relatively flat (+0.06%).