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UPDATE: Barclays Upgrades Cenovus Energy Inc. (CVE) to Overweight; Very Attractive Oil-Sands Portfolio

August 30, 2012 6:57 AM EDT Send to a Friend
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Price: $30.27 -0.82%

Rating Summary:
    5 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 23 | New: 13
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(Updated - August 30, 2012 1:51 PM EDT)

Barclays upgraded Cenovus Energy Inc. (NYSE: CVE) from Equalweight to Overweight with a price target of CDN$41.00.

Analyst, Thomas R. Driscoll, said, "CVE shares have been weak and we now see 26% upside to our $41 target. The company has perhaps the most attractive oil-sands portfolio among the larger E&Ps - with full-cycle supply costs as low as $35-50/bbl (WTI-equivalent). The refining cycle has turned in their favor and evolving technology will likely enhance future economics."

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

Shares of Cenovus Energy Inc. closed at $32.58 yesterday.




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