Mizuho raises Chevron PT on earlier-than-expected Hess deal close

Mizuho raises price target for oil major Chevron CVX.N to $192 from $186

New PT represents an upside of 24.3% to the stock's last closing price on Tuesday

Brokerage raises PT on earlier-than-expected close of Hess deal and accelerated synergy capture

Mizuho notes that structural cost reductions and synergies should give the company plenty of free cash flow to accelerate shareholder cash returns

Brokerage continues to see modestly better upside in CVX, both on net asset value and 2026 multiple, reiterates "outperform" rating

Fifteen of 25 brokerages rate the stock "buy" or higher, nine "hold" and one "sell"; their median PT is $170 - data compiled by LSEG

Including session's moves, CVX shares up ~7% YTD