BofA Global Research raised its price target for Chevron (CVX) from $180 to $188 while maintaining a Buy rating, citing the company's strategic focus on efficiency and cost savings ahead of upcoming earnings.
- The organizational restructuring aims to achieve structural cost savings of $2 billion to $3 billion by the end of 2026.
- The positive sentiment supports the stock, which is currently trading near its recent 52-week high of $169.37.