The uncertainty of Hess's (HES.US) arbitration or being priced by the market Citigroup upgrades Chevron (CVX.US) to Buy
Wednesday, Nov 27, 2024 1:40 am ET
1min read Citigroup raised its rating on Chevron (CVX.US) to Buy and added the stock to its Up Catalyst Watch List, saying its performance has lagged that of major peer Exxon (XOM.US) by a wide margin. The valuation discount to Exxon could reach 20% by 2026-2027, the largest gap between the two stocks historically, said Alastair Syme of Citigroup. The valuation gap "should provide investors with a view around the unknown outcome of the 2025 HES arbitration," he added, and said "downside risk looks protected but upside potential is significant."
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.