Wednesday, October 27, 2010

Chevron (NYSE:CVX) Garners a "Buy" Rating from Credit Agricole

Credit Agricole believes Chevron (NYSE:CVX) has a lot more room to move upward since bottoming out for the year in July, dropping to as low as $66.83 at the time.

Chevron has since rebounded to an annual high of $85.24, and closed Monday just below that at $85.15, gaining $0.28, or 0.33 percent.

Credit Agricole initiated coverage on them with a "Buy" rating, and placed a price target of $100 on the energy giant.

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