Evercore ISI raised the firm’s price target on Ovintiv (OVV) to $47 from $43 and keeps an Outperform rating on the shares. The company’s recent Q3 performance exceeded expectations, and the strategic Montney expansion is set to redefine its growth narrative, the analyst tells investors in a research note. The firm added that the surprise takeover of NuVista is poised to enhance cash flow metrics and streamline the portfolio.
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