Raymond James Thinks Encana Corp’s Stock is Going to Recover


In a report released yesterday, Chris Cox from Raymond James reiterated a Buy rating on Encana Corp (ECA), with a price target of $12.50. The company’s shares opened today at $6.33, close to its 52-week low of $6.06.

According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.6% and a 45.6% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Encana Corp with a $13.58 average price target.

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Based on Encana Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $39 million. In comparison, last year the company had a net profit of $294 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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