Bullboard - Stock Discussion Forum Cenovus Energy Inc T.CVE.WT

Primary Symbol: T.CVE Alternate Symbol(s): T.CVE.PR.E | T.CVE.PR.G | CNVEF | CVE.WS | CVE | T.CVE.PR.A | T.CVE.PR.B | T.CVE.PR.C

Energy Oil & Gas Integrated

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has 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. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

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TSX:CVE - Post Discussion

Cenovus Energy Inc > Targets Raised

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Post by retiredcf on Nov 03, 2023 8:23am

Targets Raised

Mr. Pardy (RBC) also increased his Cenovus Energy Inc. (CVE-) target to $32 from $30 with an “outperform” rating. Other changes include: National Bank’s Travis Wood to $36 from $37 with an “outperform” rating and TD’s Menno Hulshof to $35 from $34 with a “buy” rating. The average is $32.91.

“Cenovus’s third-quarter results reinforced our confidence in the company’s integrated model and free cash flow generation,” said Mr. Pardy. “We recognize that there may be some market fatigue in terms of the company achieving its $4 billion net debt floor (which we now anticipate could occur in the first half of 2024), but we believe that patience will be rewarded. Meanwhile, Cenovus is distributing one-half of its free cash flow to shareholders.”

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