Cantech letter: Beacon sec raise target https://www.cantechletter.com/2024/04/is-cvx-stock-a-buy-right-now/#
In a research update to clients April 12, Stanley maintained his “Buy” rating but raised his price target on the stock from $0.60 to $0.70, implying a return of 79% at the time of publication.
Stanley thinks the company will post Adjusted EBITDA of $7.0-million on revenue of $63.0-million in fiscal 2024. He expects those numbers will improve to Adjusted EBITDA of $13.0-million on a topline of $82.0-million the following year.
“CVX trades at 4.4x our new F2025 adjusted EBITDA forecast, representing a 59%-61% discount to the 10.7-11.1x average at which infrastructure and cement companies trade. Potential catalysts include additional contract wins/backlog updates, and the Q1 results (expected May 8th),” the analyst added.