Chevron gets JPMorgan upgrade, citing Hess integration and cost reductions
JPMorgan upgraded Chevron on Tuesday, praising the oil major’s integration of Hess Corporation and its implementation of cost-cutting measures. The bank now rates Chevron as overweight and gives its a 12-month price target of $176, suggesting about 6% upside from Friday’s close. Chevron has achieved its initial target of $1 billion in synergies from the…

