RBC is reaffirming its bullish outlook for EnCana, based on impressive production growth visibility over the next few years. The new EnCana will begin trading on the TSX on December 3. RBC views EnCana as possessing the best real estate on the block, with 10.6 million acres of undeveloped land. EnCana should have little trouble in delivering low cost growth. EnCana's relative valuation is attractive, particularly given its impressive track record of growth and superior management execution over the years. RBC is reaffirming its Outperform rating on the stock.
RBC is rating Cenovus at Sector Perform given its premium valuation.
QuickTax Draw Winners
1 day ago
3 comments:
With so many market pressures against EnCana, it is poised for a large upside breakout when the valve is opened just a little.
RBC Capital Markets analyst Greg Pardy is rating EnCana Outperform ($39 PT) and Cenovus Sector Perform ($31 PT).
CIBC World Markets analyst William Lee is rating EnCana Outperform ($36 PT) and Cenovus Sector Perform ($31 PT).
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