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CVE

Cenovus Energy

$8.71

-0.265 (-2.95%)

12:30
10/12/18
10/12
12:30
10/12/18
12:30

Call buying in Cenovus Energy as shares extend losses

Call buying in Cenovus Energy as shares extend losses. The stock off 27c to $8.69 and Dec 10s trade across the exchanges for 30c per contract. 2.8K changed hands against 1.9K open interest and the contract, which has a strike 15% above the share price, captures earnings on 10/31. The stock opened October at $10.27 per share, but has lost ground in eight of the last nine trading days and is down 13.3% MTD. Dec 10 call buyers are positioning for a rebound over the next ten weeks.

CVE Cenovus Energy
$8.71

-0.265 (-2.95%)

09/07/18
GSCO
09/07/18
DOWNGRADE
Target $8
GSCO
Sell
Cenovus Energy downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Neil Mehta downgraded Cenovus Energy to Sell and lowered his price target for the shares to $8 from $12. The company remains negatively exposed to a "challenging" West Texas Intermediate -Western Canadian Select macro environment, which will continue until the currently estimated in-service of pipeline expansion projects in 2020, Mehta tells investors in a research note. Further, he believes the acceleration of higher royalty payments will drive margin compression at oil sands assets ahead of prior expectations.
09/10/18
JPMS
09/10/18
UPGRADE
JPMS
Overweight
Cenovus Energy upgraded to Overweight from Neutral at JPMorgan
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.
09/10/18
09/10/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Foot Locker (FL) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying after 12-18 months of choppy operating performance, he believes that brighter days are ahead for Foot Locker due primarily to improvement in the Nike-brand (NKE) assortment, an alleviation of the Jordan-brand headwind and an alleviation of the headwinds in Europe. 2. Kennametal (KMT) upgraded to Buy from Neutral at Longbow. 3. Credit Suisse (CS) upgraded to Equal Weight from Underweight at Barclays with analyst Amit Goel saying the risk/reward looks more balanced at current share levels. 4. Cenovus Energy (CVE) upgraded to Overweight from Neutral at JPMorgan with analyst Phil Gresh saying the company's rail deal with Canadian National (CNI) and its deleveraging will unlock "cheap" free cash flow yield. 5. Akamai (AKAM) upgraded to Buy from Neutral at DA Davidson with analyst Mark Kelleher citing his meeting with management last week to discuss its Q2 results and the company direction going into 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/18
CIBC
10/05/18
INITIATION
CIBC
Outperformer
Cenovus Energy initiated with an Outperformer at CIBC

TODAY'S FREE FLY STORIES

WFT

Weatherford

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-0.0263 (-3.21%)

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NCLH

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BSX

Boston Scientific

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SNPS

Synopsys

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NWL

Newell Brands

$17.18

0.05 (0.29%)

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Periodicals
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  • 21

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BIIB

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, ESALY

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ESALY

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Conference/Events
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Conference/Events
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EEM

iShares MSCI Emerging Markets ETF

$42.48

-0.175 (-0.41%)

10:20
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Size three-way spread in iShares Emerging Markets Fund as shares tick lower »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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10:15
02/21/19
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General news
U.S. leading index dipped 0.1% to 111.3 in January »

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Breaking General news story  »

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HOME

At Home Group

$23.84

0.01 (0.04%)

, HLIT

Harmonic

$5.51

0.19 (3.57%)

10:11
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Initiation
Fly Intel: Top five analyst initiations »

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HOME

At Home Group

$23.84

0.01 (0.04%)

HLIT

Harmonic

$5.51

0.19 (3.57%)

ATKR

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$24.08

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BTX

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Aphria

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GRMN

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, BIIB

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Downgrade
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, SAM

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Upgrade
Fly Intel: Top five analyst upgrades »

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CAJ

Canon

$29.10

-0.02 (-0.07%)

SAM

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$302.00

34.05 (12.71%)

X

U.S. Steel

$24.25

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KEM

Kemet

$18.86

-0.57 (-2.93%)

10:10
02/21/19
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Options
Put buyers in Kemet Corp as shares slip »

Put buyers in Kemet Corp…

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10:10
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General news
U.S. existing home sales dropped 1.2% in January to 4.94 M »

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CPRX

Catalyst Pharmaceuticals

$2.80

0.04 (1.45%)

10:08
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On The Fly
Catalyst Pharmaceuticals defends pricing for Firdapse after Sanders slams company »

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10:05
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Leading Indicators data reported »

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January Existing Home…

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