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JPMorgan has upgraded Chevron to overweight, citing the successful integration of Hess Corporation and ongoing cost-reduction efforts, with a 12-month price target of $176. Chevron has realized $1 billion in synergies from the acquisition and aims to achieve annual savings of $3 billion to $4 billion by 2026, supported by key projects in Guyana and Kazakhstan expected to generate significant free cash flow. Additionally, the company is negotiating to establish a natural gas-powered generation facility for a data center.