Brokerage Firm Rating Update on Encana Corporation (ECA)

Encana Corporation (ECA) : The consensus on Encana Corporation (ECA) based on 15 analyst recommendation on the company stock is 2.67, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 3 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Encana Corporation (ECA) : 14 Wall Street analysts covering Encana Corporation (ECA) believe that the average level the stock could reach for the short term is $9.93. The maximum price target given is $15 and the minimum target for short term is around $8, hence the standard deviation is calculated at $2.44.

Encana

Company shares have received an average consensus rating of Hold for the current week Also, KLR Group initiates coverage on Encana Corporation (NYSE:ECA). The shares have now been rated Hold by the stock experts at the ratings house. The rating by the firm was issued on August 29, 2016.

Encana Corporation (NYSE:ECA): The stock opened at $10 and touched an intraday high of $10.375 on Wednesday. During the day, the stock corrected to an intraday low of $9.96, however, the bulls stepped in and pushed the price higher to close in the green at $10.2 with a gain of 2.51% for the day. The total traded volume for the day was 14,656,618. The stock had closed at $9.95 in the previous trading session.

Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada; USA Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization, which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification. Market Optimization sells all of the Companys upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin, and San Juan.

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