There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Pioneer Natural (PXD) and Cenovus Energy (CVE) with bullish sentiments.
Pioneer Natural (PXD)
RBC Capital analyst Scott Hanold maintained a Buy rating on Pioneer Natural on April 27 and set a price target of $185.00. The company’s shares closed last Tuesday at $158.45, close to its 52-week high of $169.49.
According to TipRanks.com, Hanold is a 2-star analyst with an average return of 1.2% and a 43.4% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.
Pioneer Natural has an analyst consensus of Moderate Buy, with a price target consensus of $190.04, a 20.0% upside from current levels. In a report issued on April 15, Barclays also maintained a Buy rating on the stock with a $193.00 price target.
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Cenovus Energy (CVE)
In a report issued on April 28, Gregory Pardy from RBC Capital maintained a Buy rating on Cenovus Energy, with a price target of C$12.00. The company’s shares closed last Tuesday at $7.66.
According to TipRanks.com, Pardy is a 4-star analyst with an average return of 7.9% and a 52.2% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Suncor Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cenovus Energy with a $10.74 average price target, implying a 33.3% upside from current levels. In a report issued on April 15, Scotiabank also upgraded the stock to Buy with a C$12.00 price target.
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