Thursday, June 9, 2011

Commodities still rising

After OPEC's failure to meet a consensus on raising output this week, it looks like oil prices will continue to rise. We think this means continued growth for Chevron. It's been a tough couple of months but the stock closed at $101.23 today after bottoming out in the $98-99 range. Credit Suisse, S&P and others have a target of $118 to 120; I think CVX will reach that by August.

Looking for Coke to rise above $70 by August. It's trading around $65 right now.

Summer's here; the next 3 months are looking up!

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