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Fly News Breaks for September 16, 2019
CPG
Sep 16, 2019 | 04:55 EDT
BMO Capital analyst Ray Kwan upgraded Crescent Point Energy to Outperform from Market Perform and raised his price target for the shares to C$8 from C$6. Crescent Point is ~90% oil weighted and has among the highest cash flow netbacks among the Canadian peers, Kwan tells investors in a research note. The analyst believes a higher risk premium will be attributed to oil over the next 12 months given the uncertainty of Saudi Arabia's production capability, which he thinks should benefit oil-weighted producers like Crescent Point.
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