Cenovus Energy ( (TSE:CVE) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Cenovus Energy shares came under pressure after the company said it plans to sell about $2 billion worth of Canadian oil assets, a move that sparked mixed reactions on Bay Street. Some analysts responded by trimming their ratings and price targets, signaling concern about the company’s near-term growth and asset base, while others took a more optimistic view. Notably, Goldman Sachs raised its price target and reiterated a Buy rating, suggesting the planned asset sales could strengthen Cenovus’s balance sheet and long‑term value.
More about Cenovus Energy
YTD Price Performance: 16.55%
Average Trading Volume: 11,339,340
Technical Sentiment Signal: Buy
Current Market Cap: $37.29B
For further insights into CVE stock on TipRanks’ Stock Analysis page.
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