Ovintiv price target lowered to $75 from $76 at UBS

UBS analyst Josh Silverstein lowered the firm’s price target on Ovintiv (OVV) to $75 from $76 and keeps a Buy rating on the shares as part of a Q1 earnings preview. The firm expects a positive update and says Ovintiv remains a top pick. The stock’s valuation gap to peers should narrow as as Ovintiv closes the Anadarko sales, ramps up its buyback, and delivers Montney resource upside, the analyst tells investors in a research note.