Scotiabank Remains a Buy on Cenovus Energy

By Ryan Adsit

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Cenovus Energy (TSX: CVE) received a Buy rating from Scotiabank’s analyst Jason Bouvier, with a C$14 price target.

According to TipRanks.com, Bouvier is ranked #1474 out of 4706 analysts.

Currently, the analyst consensus on Cenovus Energy is Moderate Buy and the average price target is C$14.93, representing a 7.2% upside.

In a report issued on October 30, Canaccord Genuity also assigned a Buy rating to the stock with a C$15.50 price target.

The company has a one-year high of C$22.06 and a one-year low of C$8.89. Currently, Cenovus Energy has an average volume of 3.66M.

Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through the following segments: Oil Sands, Conventional, Refining and Marketing; and Corporate and Eliminations.

The company’s shares closed on Monday at C$13.93.