Raymond James analyst Michael Barth upgraded Cenovus Energy (CVE) to Strong Buy from Outperform with a price target of C$32, up from C$30. The firm updated the company’s model to include the MEG acquisition. As a result, it views Cenovus as offering the best risk-adjusted return in the space.
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Read More on CVE:
- Cenovus Energy Enhances MEG Acquisition Offer Amid Record Production
- Cenovus Energy, MEG amend terms of the existing standstill agreement
- Cenovus Energy announces amended agreement with increased price to acquire MEG
- Cenovus Energy price target raised to C$28 from C$27 at TD Securities
- Cenovus Energy Highlights Superior MEG Transaction