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Stock impact report

Analyst Reinstates Coverage of Cenovus Energy (CVE) with ‘Buy' Rating [Yahoo! Finance]

Cenovus Energy Inc (CVE) 
Last cenovus energy inc earnings: 4/29 06:00 am Check Earnings Report
US:NYSE Investor Relations: cenovus.com/disclaimerir
Company Research Source: Yahoo! Finance
Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining, and marketing operations in Canada and the United States. Cenovus Energy Inc. (NYSE:CVE) received a boost on January 2 when Goldman Sachs analyst Neil Mehta reinstated coverage of the stock with a ‘Buy' rating and a price target of $20, indicating an upside of 20% from the current share price. The analyst expects Cenovus to generate ‘strong' free cash flow over the long term, especially after the acquisition of MEG Energy in November. The multi-billion dollar deal has added 110,000 bpd of long-life, low-cost assets to the company's portfolio, consolidating a core growth area in northern Alberta. The MEG acquisition is expected to be immediately accretive to funds flow. Cenovus expects to produce between 945,000 and 985,000 boed in 2026, representing approximately 4% YoY growth. Moreover, the analyst highlight Show less Read more
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