KLR Group Downgrades EnCana Corp. (ECA) to Accumulate
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KLR Group downgraded EnCana Corp. (NYSE: ECA) from Buy to Accumulate with a price target of $14.00.
Analyst John Gerdes commented, "We are downgrading ECA from Buy to Accumulate. Our target price of $14 per share is unchanged. Encana’s mid-cycle capital yield is ~100% versus the industry median cash recycle ratio of ~130%. ECA has appreciated ~20% since our early November upgrade and outperformed the group by ~10%. ECA now has less than 20% upside to our target price thus requiring a downgrade to Accumulate."
Shares of EnCana Corp. closed at $12.16 yesterday.
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