Wells Fargo starts coverage of Chevron (CVX) at Outperform with a $128-$140 price target, citing...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Wells Fargo starts coverage of Chevron (CVX) at Outperform with a $128-$140 price target, citing robust production growth, attractive shareholder returns and strong balance sheet. The firm is less enamored of Exxon Mobil (XOM), which it starts at Market Perform with a $96 target, believing slow growth and premium valuation limit upside.