Ovintiv price target lowered to $53 from $55 at RBC Capital

RBC Capital lowered the firm’s price target on Ovintiv (OVV) to $53 from $55 and keeps a Sector Perform rating on the shares. The firm’s assumed multiples reflect the company’s strong execution capability and attractive asset base, though this is partly offset by its financial leverage and unconventional strategic moves at times, the analyst tells investors in a research note.