KLR Group Upgrades EnCana Corp. (ECA) to Buy
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KLR Group upgraded EnCana Corp. (NYSE: ECA) from Hold to Buy with a price target of $14.00 (from $12.00).
Analyst John Gerdes commented, "We are upgrading ECA from Hold to Buy and increasing our target price $2 to $14 per share due to higher liquids price realizations and lower cash expense. Encana’s mid-cycle capital yield is ~100% versus the industry median cash recycle ratio of ~130%."
Shares of EnCana Corp. closed at $9.80 yesterday.
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