Merrill Lynch analyst Doug Leggate initiated coverage with a Buy rating on Encana Corp (NYSE: ECA) today and set a price target of $19. The company’s shares opened today at $12.13.
According to TipRanks.com, Leggate is a 1-star analyst with an average return of -2.6% and a 45.7% success rate. Leggate covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Anadarko Petroleum, and Chesapeake Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Encana Corp with a $16.92 average price target.
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The company has a one-year high of $14.31 and a one-year low of $9.79. Currently, Encana Corp has an average volume of 7.58M.
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Encana Corp. engages in the production of natural gas, oil, and natural gas liquids. It operates through the following segments: Canadian Operations, USA Operations and Market Optimization.
