There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Encana Corp (NYSE:ECA) and EQT Corporation (NYSE:EQT) with bullish sentiments.
Encana Corp (ECA)
BMO Capital analyst Randy Ollenberger reiterated a Buy rating on Encana Corp on October 8 and set a price target of $18. The company’s shares opened today at $11.50.
Ollenberger has an average return of 9.5% when recommending Encana Corp.
According to TipRanks.com, Ollenberger is ranked #2236 out of 4897 analysts.
Encana Corp has an analyst consensus of Strong Buy, with a price target consensus of $17.30.
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EQT Corporation (EQT)
In a report issued on October 9, Phillip Jungwirth from BMO Capital reiterated a Buy rating on EQT Corporation, with a price target of $55. The company’s shares opened today at $45.31, close to its 52-week low of $43.53.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 8.2% and a 60.4% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Continental Resources, Anadarko Petroleum, and Devon Energy Corp.
Currently, the analyst consensus on EQT Corporation is a Moderate Buy with an average price target of $58.60, implying a 29.3% upside from current levels. In a report issued on October 1, RBC Capital also maintained a Buy rating on the stock with a $71 price target.
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