NEW YORK, Feb 20 (Reuters) - Chevron Corp shares are likely to rise alongside oil prices, despite a ruling this month ordering the U.S. company to pay $8.6 billion in damages over contamination in the Amazon, Barron's reported on Sunday.
Shares in the oil company could hit $110 or more in the next 12 months on higher crude, Barron's said, citing Wall Street analysts. Chevron shares closed at $98.72 on Friday.
It remains unclear whether Chevron will have to pay the damages from the ruling by a court in Ecuador, but either way, Barron's said the company would have little trouble doing so.
(Reporting by Martinne Geller; Editing by Dale Hudson) Keywords: CHEVRON/ (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shares in the oil company could hit $110 or more in the next 12 months on higher crude, Barron's said, citing Wall Street analysts. Chevron shares closed at $98.72 on Friday.
It remains unclear whether Chevron will have to pay the damages from the ruling by a court in Ecuador, but either way, Barron's said the company would have little trouble doing so.
(Reporting by Martinne Geller; Editing by Dale Hudson) Keywords: CHEVRON/ (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.