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Scotiabank Raises Chevron (CVX) Target, Sees Mixed Trends Across Energy Sector

Chevron Corporation (NYSE:CVX) is included among the 10 Best Bear Market Stocks to Invest in Right Now.

On April 22, Scotiabank raised its price recommendation on Chevron Corporation (NYSE:CVX) to $187 from $168. It reiterated a Sector Perform rating on the shares. The firm said it is updating price targets for US Integrated Oil, Refining, and Large Cap E&P companies under its coverage. Its view on the sector remains mixed. It is generally above consensus earnings estimates for the E&P group, while sitting below expectations for independent refiners. Looking ahead, the firm expects investor focus to shift toward whether recent volatility in the oil market will affect activity levels in 2026 and beyond.

On April 23, Reuters reported that Chevron had fully restored production at its Wheatstone LNG facility in Western Australia after completing repairs tied to cyclone damage from the prior month. The company said Tropical Cyclone Narelle hit the 8.9 million-ton-per-year plant in late March, forcing both LNG processing trains offline.

Danny Woodall, director of operations and maintenance for Australia, said the cyclone’s extreme winds damaged several hundred air-cooled heat exchangers, known as fin fans, making the repair process both extensive and complex. He added that domestic gas supply for Western Australian customers was restored within about a week, while LNG production returned gradually over time.

Chevron Corporation (NYSE:CVX) is an integrated energy company. It produces crude oil and natural gas, manufactures transportation fuels, lubricants, petrochemicals, and additives, and develops technologies to support its operations and the broader industry.

While we acknowledge the risk and potential of CVX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CVX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Monthly Dividend Stocks To Buy and 10 Best US Stocks to Invest In for Long Term

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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