BMO on CPG Crescent Point Energy Outperform Rating Reiterated at BMO Capital Following Q1 Results
02:15 PM EDT, 05/13/2022 (MT Newswires) -- BMO Capital Markets kept its outperform rating on the shares of Crescent Point Energy (CPG.TO) in place with a C$15.00 price target after the oil and gas producer reported first-quarter results.
"Crescent Point's outlook remains strong and the company expects to generate $1.2-1.4 billion of excess free cash flow in 2022 at US$80-US$100/bbl WTI, implying an inexpensive post-dividend free cash flow yield of 24-28%," analyst Ray Kwan noted. "We maintain our Outperform rating and $15.00 target price."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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