Sure, test it.. output 4.
Variables are case sensitive, so Z is a different variable than z.

1. int x=2;
2. int y=3;
3. int Z=4;
4. x=y=Z;
5. println(x);

An assignment has a value, of what is assigned. You can even do foo(a = b) or while (x = next()) but it isn't very readable, so it is generally avoided.