Deutsche Bank Upgrades EnCana Corp. (ECA) to Buy

Deutsche Bank upgraded EnCana Corp. (NYSE: ECA) from Hold to Buy with a price target of $31.00 (from $30.00).

Analyst Stephen Richardson said, "We have taken a keen interest in ECA as the opportunity to transform the portfolio was significant, and new management has been willing to act aggressively and decisively. Acknowledging the lower full cycle returns of a growth by acquisition strategy, the ATHL deal materially improves the forward growth and duration potential at ECA. Our upgrade is a vote of confidence in the change to date at ECA and the outlook. We see the stock cheaper to peers (by ~15%) and offering multi-year visibility on 15%+ debt adjusted cash flow growth profile at a flat commodity deck."

For an analyst ratings summary and ratings history on EnCana Corp. click here. For more ratings news on EnCana Corp. click here.

Shares of EnCana Corp. closed at $21.38 yesterday.

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