NuVista Energy, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Sam Burwell from Jefferies downgraded the rating on the stock to a Hold and gave it a C$18.00 price target.
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Sam Burwell has given his Hold rating due to a combination of factors related to NuVista Energy’s recent developments. The primary reason for the downgrade from a Buy to a Hold is the recent transaction with OVV, which has influenced the price target adjustment to C$18. This transaction is expected to proceed smoothly, as NuVista Energy conducted a sale process and achieved a sale at a premium, indicating a positive outlook for shareholders through potential synergies.
Additionally, NuVista Energy’s recent financial performance showed a positive surprise in cash flow per share, driven by increased liquid volumes. Despite these positive aspects, the overall assessment led to a Hold rating, reflecting a balanced view of the company’s current position and future prospects.
Burwell covers the Energy sector, focusing on stocks such as ARC Resources, AltaGas, and Gibson Energy. According to TipRanks, Burwell has an average return of 15.0% and a 61.70% success rate on recommended stocks.
In another report released today, BMO Capital also downgraded the stock to a Hold with a C$18.00 price target.