Credit Suisse analyst William Featherston reinstated Encana with an Outperform rating and $10 price target. The analyst notes that the stock now trades at about 1.5 turn discount to peers on EV/DACF and a 25% discount on relative price/NAV and yet offers attractive high-single-digit liquids growth, competitive debt-adjusted growth, and an above-average 7% free cash flow yield. Featherston believes the combination of executing on this plan, reducing costs and boosting oil volumes on the acquired NFX assets, and potential asset sales could serve as catalysts to re-rate its shares toward the peer average.