Ovintiv initiated with a Buy at Truist

Truist initiated coverage of Ovintiv (OVV) with a Buy rating and $70 price target The company has gone through significant portfolio transformations through the years, but with the recent Anadarko Basin sale the portfolio is as lean as ever, framing a clean and robust story, the analyst tells investors in a research note. Ovintiv’s resource depth in the Midland and Montney remains underappreciated, the firm added.