TD Newcrest Upgrades Cenovus Energy (CVE) to Buy; Several N-T Catalysts

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TD Newcrest upgraded Cenovus Energy (NYSE: CVE) from Hold to Buy, price target raised from C$41 to C$45.

TD analyst says, "Although we fully acknowledge that we are ‘late to the party’ on the Cenovus story, we are compelled to upgrade to BUY in conjunction with the release of our Q4/11 preview. This call is predicated on our expectation of several near-term catalysts which, in our view, will drive outperformance well into 2012."

For an analyst ratings summary and ratings history on Cenovus Energy click here. For more ratings news on Cenovus Energy click here.

Shares of Cenovus Energy closed at $37.77 yesterday, with a 52 week range of $27.15-$40.73.

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