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Chevron (CVX) Stock Price Target Hiked At Barclays

NEW YORK (TheStreet) -- Chevron (CVX - Get Report) stock is climbing by 1.68% to $96.40 in early-morning trading on Friday, as oil prices rally and Barclays (BCS) ups its price target today.

Barclays increased its price target on the stock to $97 from $89 to reflect a long-term Brent crude price assumption between $65 and $70 per barrel. This is up from the firm's previous price assumption of $65 per barrel.

Shares of the oil and gas company are also benefiting from higher oil prices today. Oil prices are rising on...