CIBC World Markets upgraded Encana Corp (TSE:ECA) from Underperform to Sector Perform in a statement released earlier today.
- Updated: September 30, 2016
CIBC World Markets has upgraded Encana Corp (TSE:ECA) from Underperform to Sector Perform in a statement released on Friday September 30, 2016.
Previously on 09/21/2016, RBC Capital Markets reported about Encana Corp (TSE:ECA) raised the target price from $13.00 to $14.00. At the time, this indicated a possible upside of 0.14%.
Yesterday Encana Corp (TSE:ECA) traded 3.31% higher at $13.73. The company’s 50-day moving average is $12.67 and its 200-day moving average is $10.29. The last stock close price is up 33.45% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 6,837,261 shares of the stock were exchanged, up from an average trading volume of 5,558,450
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Encana Corp has a 52 week low of $4.14 and a 52 week high of $13.87 The company’s market cap is currently $0.
In addition to CIBC World Markets reporting its target price, a total of 13 firms have reported on the stock. The consensus target price is $10.31 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Encana Corp (TSE:ECA)
Encana Corp is a Canada-based energy producer, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company's operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America. The Company operates through three segments: Canadian Operations, USA Operations and Market optimization. The Company's Canadian Operations segment includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada. USA Operations include the exploration for, development of, and production of natural gas, oil and NGLs, and other related activities within the United States. Market Optimization segment is responsible for the sale of the Company's production and managing the associated netback price. Market Optimization sells the Company's upstream production to third-party customers.
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