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Fly News Breaks for March 5, 2019
ECA
Mar 5, 2019 | 05:35 EDT
Goldman Sachs analyst Brian Singer reinstated coverage of Encana with a Buy rating and $9 price target following the closing of its Newfield Exploration acquisition. While the deal is dilutive to net asset value, slowing down development in both the Permian Basin and Anadarko Basin, it should improve both the potential for execution and longevity of production growth, Singer tells investors in a research note. The analyst views Encana as undervalued with the stock down 29% since November 1, 2018.
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