Chevron price target raised to $216 from $211 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Chevron (CVX) to $216 from $211 and keeps a Buy rating on the shares. The company maintains a strong free cash flow outlook supported by upstream assets and potential Venezuela upside, underpinned by disciplined capital allocation, structural cost savings, a solid balance sheet, and exploration and production priorities spanning international growth, U.S. activity, and efficiency initiatives, the analyst tells investors in a research note.