Chevron price target raised to $166 from $158 at Barclays

Barclays analyst Betty Jiang raised the firm’s price target on Chevron (CVX) to $166 from $158 and keeps an Equal Weight rating on the shares. The firm adjusted ratings and targets in the exploration and production group as part of a Q4 preview. The upstream sector’s cash return model “remains resilient” amid macro volatility, the analyst tells investors in a research note. Barclays see attractive opportunities in U.S. onshore. It tells investors to “tread carefully” through the near-term commodity uncertainty.