Chevron price target lowered to $180 from $190 at RBC Capital

RBC Capital analyst Biraj Borkhataria lowered the firm’s price target on Chevron to $180 from $190 and keeps an Outperform rating on the shares. Chevron shares are underperforming materially on the arbitration delays, and with the company topping off the week with an earnings miss and relatively weak financial results, the analyst tells investors in a research note. Delays present increased uncertainty, though the weakness relative to peers over recent months is pricing in a more negative scenario already, the firm added.