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Scotiabank Raises CVX Target to $168 in U.S. Integrated Oil and E&P Update

Chevron Corporation (NYSE:CVX) is included among the 15 Best High Yield Stocks to Buy.

On January 16, Scotiabank raised its price target on Chevron Corporation (NYSE:CVX) to $168 from $165. The firm maintained a Sector Perform rating on the stock. The bank said the change is part of a wider update to its coverage across U.S. integrated oil, refining, and large-cap E&P companies. Scotiabank also expects this quarter’s earnings picture to be fairly clean, mainly because there haven’t been any major winter weather events to disrupt operations. Looking ahead, the firm thinks investors will be focused on whether the recent market volatility leads companies to adjust their 2026 guidance and whether more E&P players start rolling out cost-cutting programs.

At the same time, Chevron is also getting attention because of the activity in Venezuela. On January 16, Reuters reported that the US is moving quickly to grant Chevron a broader license that would expand its ability to operate and produce oil in the country, according to US Energy Secretary Chris Wright. The report said the US plans to allow Chevron to pay the Venezuelan government in cash rather than crude, which would be a major shift since it would let Chevron sell all of the oil it produces there.

Under the current license terms, Chevron has been paying Venezuela’s royalties and taxes using oil, not cash. That setup has effectively limited the company’s exports to roughly half of what it produces in the country. Reuters also noted that the Trump administration has been working to restart Venezuela’s oil industry after Nicolás Maduro was removed from power earlier this month, and Chevron is expected to receive an updated license that could support higher production and exports.

Chevron Corporation (NYSE:CVX) is one of the world’s largest integrated energy companies, producing oil and natural gas while also making fuels, lubricants, petrochemicals, and other energy-related products, along with investing in new technologies to strengthen its operations.

While we acknowledge the potential of CVX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVX and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 13 Best Dividend Kings to Buy in 2026 and 14 Best Mid Cap Dividend Aristocrat Stocks to Buy Now

Disclosure: None.

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.

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  • 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.

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