Chevron price target lowered to $170 from $190 at Redburn Atlantic

Redburn Atlantic lowered the firm’s price target on Chevron to $170 from $190 and keeps a Neutral rating on the shares. Following recent weakness, the firm now sees upside to oil prices in 2024. With valuations “still undemanding, and sentiment decidedly negative, this creates a more favorable setup for the equities,” the analyst tells investors in a research note.