UBS raised the firm’s price target on Cenovus Energy (CVE) to C$27 from C$25 and keeps a Buy rating on the shares. The firm views the company’s takeover of MEG constructively. Cenovus has a track record of creating value through upstream deals, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVE:
- Strategic Acquisition of MEG Energy Boosts Cenovus Energy’s Growth Prospects
- Cenovus Energy upgraded to Outperform from Sector Perform at National Bank
- Unusually active option classes on open August 22nd
- Morning Movers: Cenovus Energy rises following deal to acquire MEG Energy
- Cenovus Energy to Acquire MEG Energy in $7.9 Billion Deal