Deutsche Bank Downgrades EnCana Corp. (ECA) to Sell

Deutsche Bank downgraded EnCana Corp. (NYSE: ECA) from Hold to Sell.

The firm comments, "While YTD performance (+23%) at ECA is explained by the bounce in NG and improving 2013 gas balances, we struggle to explain relative value in what we view as a lagging capital efficiency story with challenged underlying production trends. With CAL13 now above our estimates we recommend a more selective approach to the stocks. At ECA, we see a negative inflection point in the revisions cycle that has helped the stock YTD due to mix shift and regional gas realizations. With the stock trading above our view of fair value and little change in our view, we re-iterate our C$20/shr TP and move our rating to Sell."

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 $22.51 yesterday.

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