Analyst Rating Update on Cenovus Energy Inc (CVE)

Cenovus Energy Inc (NYSE:CVE) has an average broker rating of 1.88, which is interpreted as a Buy, as rated by 8 equity analysts. Nonetheless, 3 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 3 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Cenovus Energy Inc (NYSE:CVE) : 7 investment research analysts covering Cenovus Energy Inc (NYSE:CVE) have an average price target of $17.96 for the near short term. The highest target price given by the Brokerage Firm to the stock is $23 and the lowest target is $15 for the short term. Analysts expect the variance to be within $3.54 of the average price.

Company shares have received an average consensus rating of Hold for the current week Also, Brokerage firm Morgan Stanley upgrades its rating on Cenovus Energy Inc (NYSE:CVE). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on June 13, 2016.

Cenovus Energy Inc (NYSE:CVE): stock turned positive on Tuesday. Though the stock opened at $13.51, the bulls momentum made the stock top out at $13.79 level for the day. The stock recorded a low of $13.295 and closed the trading day at $13.32, in the green by 2.07%. The total traded volume for the day was 1,787,477. The stock had closed at $13.05 in the previous days trading.

Cenovus Energy Inc. is a Canada-based integrated oil company. The Company is engaged in the development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas in Canada with refining operations in the United States. The Company operates in four segments: Oil Sands segment, engaged in the development and production of Cenovuss bitumen assets at Foster Creek, Christina Lake and Narrows Lake, as well as projects in the early-stages of development, such as Grand Rapids and Telephone Lake, and Athabasca natural gas assets; Conventional segment, engaged in the development and production of conventional crude oil, natural gas liquids (NGLs) and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake; Refining and Marketing segment, engaged in the transporting, selling and refining crude oil into petroleum and chemical products.

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