Barclays Adjusts PT and Estimates on EnCana Corp. (ECA); Shares Trading at Premium to Peers
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Price: $3.79 --0%
Rating Summary:
20 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on EnCana Corp. (NYSE: ECA) price target lowered from $16 to $14.
Analyst, Thomas R. Driscoll, said, "Even with $2 billion-plus of 2012E hedge gains, we believe ECA will generate far less cash flow than required to maintain volumes. We expect a Q4-Q4 decline of more than 10%; 2013 could offer similar declines. While ECA has a vast asset base with ample monetization opportunities, we think the shares will remain under pressure as ECA transitions its portfolio."
Driscoll raises FY12 EPS from $0.35 to 0.70 and FY13 from -0.90 to -0.10.
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 $20.55 yesterday.
Analyst, Thomas R. Driscoll, said, "Even with $2 billion-plus of 2012E hedge gains, we believe ECA will generate far less cash flow than required to maintain volumes. We expect a Q4-Q4 decline of more than 10%; 2013 could offer similar declines. While ECA has a vast asset base with ample monetization opportunities, we think the shares will remain under pressure as ECA transitions its portfolio."
Driscoll raises FY12 EPS from $0.35 to 0.70 and FY13 from -0.90 to -0.10.
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 $20.55 yesterday.
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