Stephens initiated coverage of Ovintiv (OVV) with an Equal Weight rating and $44 price target Despite the company’s “operational prowess,” the stock is attractively valued, the analyst tells investors. The upcoming sale of the company’s Anadarko Basin assets could fetch about $3.5B and allow net debt to be reduced by more than 65% this year, adds the analyst, who notes management expects to increase shareholder returns with the anticipated balance sheet improvement.
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