BofA raises PT on US energy majors Chevron and Exxon Mobil

Brokerage BofA Global Research raises price target on U.S. energy majors Chevron CVX.N and Exxon Mobil XOM.N to $206 and $151, respectively, from $188 and $135

The new PT for CVX implies an upside of 10.3% from the stock’s last close, while the XOM PT suggests a downside of roughly 1%

Brokerage says country-level production remains largely unaffected, any disruption to oil and LNG flows through the Strait of Hormuz due to Iran conflict would have a far greater impact on global supply-demand balances

Brokerage says any price impact may be short-lived if the U.S. military moves to quickly reopen the Strait of Hormuz

Adds that it expects LNG and oil‑linked equities to see the strongest gains, with refiners benefiting only marginally

Up to last close, CVX and XOM were up 22.54% and 26.72% YTD