Morgan Stanley raises target for Chevron stock to USD 226

Published on 10/16/2026 at 09:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue hit USD 67.20 billion versus USD 62.72 billion consensus. Chevron stock costs EUR 195.14 on October 16, 2026 before October 30 results.

Analyst targets shape the outlook

Morgan Stanley lifted its Chevron target from USD 218.00 to USD 226.00 on October 15, 2026.
Second-quarter revenue reached USD 67.20 billion versus USD 62.72 billion consensus.
Chevron stock trades at EUR 195.14 at 9:40 a.m. CEST at Lang & Schwarz on October 16, 2026.

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Chevron (ISIN US1667641005) was trading at EUR 195.14 at Lang & Schwarz on October 16, 2026 at 9:40 a.m. CEST. Morgan Stanley raised its Chevron target from USD 218.00 to USD 226.00 in a report issued on October 15, 2026, while keeping an Overweight rating, according to The Cerbat Gem.

Targets move higher

The latest revision followed a series of higher analyst targets. Investing.com reported that UBS raised its target from USD 220.00 to USD 235.00 on October 8, 2026, citing stronger refining margins and higher crude price realizations. The increase equals 6.82 percent.

The chronology continued on October 13, 2026, when Mizuho lifted its target from USD 224.00 to USD 234.00 while maintaining an Outperform rating, as Investing.com reported. Morgan Stanley then moved from USD 218.00 to USD 226.00 on October 15, 2026.

What does the target change mean?

Morgan Stanley's move represents a 3.67 percent increase in its target, but it remains an estimate rather than a company forecast. The more immediate test is Chevron's next earnings release, because the latest reported quarter already showed a large gap between actual revenue and expectations.

For the second quarter of 2026, Chevron reported USD 67.20 billion in revenue against analyst expectations of USD 62.72 billion. Adjusted earnings per share reached USD 6.06 versus consensus of USD 5.55, according to The Cerbat Gem. Revenue was 57.40 percent higher than in the year-earlier quarter, when earnings per share were USD 1.77.

October 30 is the next test

MarketBeat lists October 30, 2026 as Chevron's next reporting date, before the market opens, with the conference call scheduled for 11:00 a.m. ET. Its consensus calls for USD 4.81 earnings per share and USD 60.05 billion in revenue for the third quarter of 2026, compared with USD 1.85 and USD 48.17 billion in the year-earlier quarter.

Chevron stock before earnings

The October 16 price gives investors a dated euro reference before the earnings event. The primary listing is on the NYSE, while the German-market indication remains the relevant price for this article.

Chevron was trading at EUR 195.14 at Lang & Schwarz on October 16, 2026 at 9:40 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Chevron stock.