RBC Capital Thinks Encana Corp’s Stock is Going to Recover


RBC Capital analyst Gregory Pardy reiterated a Buy rating on Encana Corp (ECA) today and set a price target of $11. The company’s shares opened today at $6.38, close to its 52-week low of $5.

According to TipRanks.com, Pardy is ranked 0 out of 5 stars with an average return of -4.9% and a 39.5% success rate. Pardy covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Baytex Energy Corp, and Cenovus Energy Inc.

Encana Corp has an analyst consensus of Moderate Buy, with a price target consensus of $12.21, a 91.4% upside from current levels. In a report released today, BMO Capital also upgraded the stock to Buy with a $11 price target.

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The company has a one-year high of $14.31 and a one-year low of $5. Currently, Encana Corp has an average volume of 24.32M.

Based on the recent corporate insider activity of 27 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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