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'Halftime Report' Traders Weigh In On Bank Of America's Upgrade Of Chevron

Craig Jones
·1 min read

On CNBC's "Fast Money Halftime Report," Pete Najarian shared his thoughts on Bank Of America's upgrade of Chevron Corporation (NYSE: CVX). The analyst said the risk-reward has become attractive and he upgraded the stock to Buy, but lowered its price target to $96 from $101.

Pete Najarian owns the stock and he revealed that Chevron is a very difficult hold. He sees the light at the end of the tunnel, but he doesn't know how much time Chevron has before it gets into more pressure. One positive has been a move towards natural gas and a move to Permian, said Najarian. He also likes all the different aspects of the company's alternative energy plans.

Joe Terranova believes Chevron's management has done an excellent job so far and the stock stands out to him as a name that he would own in the energy space. He added that it's an incredibly frustrating environment to be an investor in the energy sector.

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