Ovintiv price target raised to $42 from $38 at Wells Fargo

Wells Fargo analyst Hanwen Chang raised the firm’s price target on Ovintiv (OVV) to $42 from $38 and keeps an Equal Weight rating on the shares. The firm says the NuVista acquisition adds top-tier Montney inventory, enhances productivity, and unlocks over 5% oil growth optionality without major midstream spend. Coupled with the Anadarko exit, Ovintiv is positioned for durable free cash flow and increasing cash returns.