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Ovintiv resumed with an Overweight at Morgan Stanley

Ovintiv resumed with an Overweight at Morgan Stanley

Morgan Stanley resumed coverage of Ovintiv (OVV) with an Overweight rating and $57 price target which offers 30% upside. The company’s recent acquisition in the Montney is 20% accretive to 2025 free cash flow per share and extends its inventory depth, the analyst tells investors in a research note. The firm sees opportunities for operational improvement on the acquired assets, as Ovintiv has demonstrated with its 2023 Permian acquisition.

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