Ovintiv price target lowered to $48 from $53 at Scotiabank

Scotiabank analyst Kevin Fisk lowered the firm’s price target on Ovintiv (OVV) to $48 from $53 and keeps an Outperform rating on the shares. The firm is updating its price targets on the Canadian E&P stocks in its coverage, the analyst tells investors. The firm expects weak global oil prices to weigh on Canadian oil benchmarks in 2025 and 2026.