Chevron on the rise as Raymond James raises to Outperform

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

Chevron (CVX +1.2%) is today's top gainer among the Dow Jones 30 industrials as oil stocks score broad gains and Raymond James upgrades shares to Outperform from Market Perform, saying CVX is in a better position than its peers to benefit from higher oil prices.

Ray Jay's Pavel Molchanov says CVX offers relatively more leverage than most peers to higher oil prices, which should reach cyclical highs over the next 6-12 months, while low WTI exposure maximizes earnings and free cash flow generation.

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