JPMorgan analyst Phil Gresh upgraded Cenovus Energy to Overweight and added the shares to his firm's Analyst Focus List as a value pick. Gresh raised his price target for the shares to C$17 from C$16. The company's rail deal with Canadian National (CNI), as reported Friday by Reuters, and its deleveraging will unlock "cheap" free cash flow yield, the analyst tells investors in a research note.
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