Goldman Sachs analyst Neil Mehta upgraded Cenovus Energy Inc (CVE) to Buy today and set a price target of $12.00. The company’s shares closed last Monday at $9.72.
According to TipRanks.com, Mehta is a 4-star analyst with an average return of 5.7% and a 61.5% success rate. Mehta covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Canadian Natural, and Conocophillips.
Cenovus Energy Inc has an analyst consensus of Moderate Buy, with a price target consensus of $11.44, which is a 19.4% upside from current levels. In a report issued on September 19, RBC Capital also reiterated a Buy rating on the stock with a C$17.00 price target.
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Cenovus Energy Inc’s market cap is currently $11.94B and has a P/E ratio of 57.62. The company has a Price to Book ratio of 0.82.
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Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations.
