Deutsche Bank Upgrades EnCana Corp. (ECA) to Hold

November 6, 2013 8:05 AM EST
Get Alerts ECA Hot Sheet
Price: $13.40 +2.52%

Rating Summary:
    16 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
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Deutsche Bank upgraded EnCana Corp. (NYSE: ECA) from Sell to Hold with a price target of C$22.

Analyst Stephen Richardson said, "3Q results were in-line with recent trends from ECA; growing liquids volumes off a modest base and natural gas declines while under spending capex to maintain financial flexibility. After significant underperformance and with results from strategic review expected by year end, the debate at ECA is whether to buy ahead of year end. We are waiting. While we see a number of potential outcomes from this review, we struggle to define a near-term path that is tangibly accretive to equity holders. The first changes are likely positive (and overdue) for EnCana Corp., but may entail some near-term pain (dilution) for shareholders (and the dividend)."

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 $18.34 yesterday.

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