Treasury yields hover near multi-year highs as energy prices and government debt fuel bond sell-off

Impact · against what's priced in

The news is largely non-material for CVX and LOW as the catalysts mentioned are already baked into their current valuations. Chevron's production growth in Venezuela and Lowe's labor partnerships are noted, but they do not shift the fundamental assumptions regarding refining margins or Pro-segment integration.

LOW+0.10

Not in the price yet

The price assumes

A successful long-term integration of the Pro acquisitions