Desjardins In response to “constructive” fourth-quarter results, Desjardins Securities’ Chris MacCulloch raised his Cenovus Energy Inc. ) target to $28 from $27.50 with a “buy” rating. The average is $29.94.
“The update was favourably received by the market after several months of disappointing performance vs peers and we expect the positive momentum to continue through the March 5 investor day presentation in Toronto, where CVE is expected to provide additional colour on planned growth and optimization projects over the next five years,” he said.