Chevron Hits New 1-Year High After Analyst Upgrade

Bank of America raises price target on Chevron stock to $206.00

Published on Mar. 2, 2026

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Chevron Corporation (NYSE:CVX) reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $188.00 to $206.00. Bank of America currently has a buy rating on the stock. Chevron traded as high as $191.44 and last traded at $189.7390, with a volume of 4,582,031 shares trading hands.

Why it matters

This analyst upgrade and price target increase for Chevron stock signals that Wall Street sees further upside potential for the energy giant, which could boost investor confidence and drive the stock price higher. As one of the largest integrated oil and gas companies, Chevron's performance is closely watched as an indicator of the broader energy sector.

The details

Bank of America cited Chevron's strong operational performance and favorable market conditions as reasons for the price target increase. The bank maintained its buy rating on the stock. Several other equity research analysts have also recently weighed in on Chevron, with most maintaining a positive or neutral stance on the company.

  • Chevron reached a new 52-week high on Monday, March 2, 2026.

The players

Chevron Corporation

An American multinational energy company engaged in virtually all aspects of the oil and gas industry, including upstream exploration and production, midstream transportation and storage, downstream refining and marketing, and petrochemical manufacturing.

Bank of America

A multinational investment bank and financial services company that provides a range of banking, investing, asset management, and other financial and risk management products and services.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

This analyst upgrade for Chevron stock reflects the company's strong operational performance and the positive outlook for the broader energy sector, which could drive further gains in the stock price in the near term.