Analyst updates * RBC’s Greg Pardy trimmed his Cenovus Energy Inc. (CVE-T) target by $1 to $28 with an “outperform” rating, while BMO’s Randy Ollenberger cut his target to $28 from $31 with an “outperform” rating. The average is $31.67.
“Our constructive — but increasingly frustrated — stance towards Cenovus reflects its solid leadership team, strong balance sheet and impressive upstream operations. But we admit a touch of fatigue when it comes to the company’s chronically soft quarterly results this year, usually due to its US refining segment,” said Mr. Pardy.