Citigroup Upgrades Encana Corporation (USA) to Buy with Price Target $13.00

Brokerage firm Citigroup Upgrades its rating on Encana Corporation (USA)(NYSE:ECA). In a research note issued to the investors, the brokerage major Raises the price-target to $13.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Citigroup was issued on Sep 30, 2016.

In a different note, On Sep 20, 2016, Scotiabank said it Downgrades its rating on Encana Corporation (USA). The shares have been rated ‘Underperform’ by the firm. On Sep 12, 2016, Nomura said it Maintains its rating on Encana Corporation (USA). In the research note, the firm Raises the price-target to $12.00 per share. The shares have been rated ‘Buy’ by the firm. KLR Group said it Initiates Coverage on Encana Corporation (USA), according to a research note issued on Aug 29, 2016. The shares have been rated ‘Hold’ by the firm. On Jul 26, 2016, FirstEnergy said it Upgrades its rating on Encana Corporation (USA). The shares have been rated ‘Market Perform’ by the firm. On Jul 14, 2016, Barclays said it Maintains its rating on Encana Corporation (USA). In the research note, the firm Raises the price-target to $6.00 per share. The shares have been rated ‘Equalweight’ by the firm.

Encana Corporation (USA) (ECA) shares turned negative on Tuesdays trading session with the shares closing down -0.16 points or -1.50% at a volume of 1,47,43,279. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.8399. The peak price level was also seen at $10.8399 while the days lowest was $10.27. Finally the shares closed at $10.51. The 52-week high of the shares is $10.8399 while the 52-week low is $3. According to the latest information available, the market cap of the company is $8,932 M.

Encana Corporation (USA)(ECA) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $364.00M. Analysts had an estimated revenue of $703.29M. Earnings per share were $0.10. Analysts had estimated an EPS of $-0.09.

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 Company’s 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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