Cenovus Energy Inc (CVE) Upgraded by TD Securities to “Buy”

TD Securities upgraded shares of Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) from a hold rating to a buy rating in a research note released on Friday morning. TD Securities currently has C$21.00 target price on the stock, down from their prior target price of C$22.00.

A number of other research analysts also recently issued reports on CVE. Scotiabank reissued an outperform rating and issued a C$21.00 price objective on shares of Cenovus Energy in a research note on Friday, December 9th. BMO Capital Markets upped their price target on Cenovus Energy from C$22.00 to C$23.00 in a research note on Wednesday, December 21st. Canaccord Genuity reaffirmed a hold rating and set a C$18.50 price target on shares of Cenovus Energy in a research note on Thursday, March 9th. Raymond James Financial, Inc. reaffirmed a market perform rating and set a C$23.00 price target on shares of Cenovus Energy in a research note on Thursday, February 16th. Finally, Royal Bank of Canada upped their price target on Cenovus Energy from C$24.00 to C$25.00 and gave the stock an outperform rating in a research note on Friday, December 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Cenovus Energy currently has a consensus rating of Buy and a consensus target price of C$22.18.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

Cenovus Energy (TSE:CVE) traded up 0.36% on Friday, reaching $16.94. The company’s stock had a trading volume of 647,679 shares. The firm’s 50-day moving average price is $17.14 and its 200 day moving average price is $18.94. The company’s market cap is $14.12 billion. Cenovus Energy has a 52-week low of $15.72 and a 52-week high of $22.06.

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Cenovus Energy Company Profile

Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.

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