Raymond James Reiterates “Market Perform” Rating for Cenovus Energy (CVE)

Cenovus Energy (TSE:CVE) (NYSE:CVE)‘s stock had its “market perform” rating reissued by research analysts at Raymond James in a report issued on Thursday. They presently have a C$17.00 price target on the stock. Raymond James’ price target indicates a potential upside of 48.21% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. TD Securities increased their price objective on shares of Cenovus Energy from C$14.00 to C$15.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity decreased their price objective on shares of Cenovus Energy from C$14.00 to C$13.50 in a research report on Wednesday, October 24th. Morgan Stanley decreased their price objective on shares of Cenovus Energy from C$18.00 to C$17.00 in a research report on Sunday, October 14th. CIBC reiterated an “outperform” rating and set a C$17.00 price objective on shares of Cenovus Energy in a research report on Friday, October 5th. Finally, JPMorgan Chase & Co. upgraded shares of Cenovus Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$16.00 to C$17.00 in a research report on Monday, September 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$16.42.

CVE opened at C$11.47 on Thursday. Cenovus Energy has a twelve month low of C$9.02 and a twelve month high of C$14.84.

In related news, Director Keith A.J. Macphail bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average cost of C$11.80 per share, with a total value of C$141,600.00.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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