Analysts Offer Insights on Materials Companies: Cenovus Energy Inc (NYSE: CVE) and Genesis Energy LP (NYSE: GEL)

By Jason Carr

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Cenovus Energy Inc (NYSE: CVE) and Genesis Energy LP (NYSE: GEL) with bullish sentiments.

Cenovus Energy Inc (NYSE: CVE)

In a report released today, Benny Wong from Morgan Stanley maintained a Buy rating on Cenovus Energy Inc (NYSE: CVE), with a price target of $15. The company’s shares closed yesterday at $9.57.

According to TipRanks.com, Wong is ranked #4077 out of 4698 analysts.

Cenovus Energy Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.

Genesis Energy LP (NYSE: GEL)

In a report released today, Ethan Bellamy from Robert W. Baird maintained a Buy rating on Genesis Energy LP (NYSE: GEL), with a price target of $29. The company’s shares closed yesterday at $25.14, close to its 52-week low of $24.89.

According to TipRanks.com, Bellamy is a 1-star analyst with an average return of -1.4% and a 53.6% success rate. Bellamy covers the Basic Materials sector, focusing on stocks such as Vanguard Natural Resources LLC, Energy Transfer Partners LP, and Noble Midstream Partners LP.

Currently, the analyst consensus on Genesis Energy LP is Moderate Buy and the average price target is $31, representing a 23.3% upside.

In a report released today, Janney Montgomery also maintained a Buy rating on the stock with a $30 price target.

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