Fly News Breaks for October 22, 2019
Oct 22, 2019 | 08:51 EDT
Morgan Stanley analyst Benny Wong downgraded Cenovus Energy (CVE) to Underweight from Equal Weight, stating that he expects wider heavy sour crude price spreads given falling high sulfur fuel oil prices and more medium and heavy oil supply than expected coming to the market. He prefers to take a more defensive stance against the risk of widening Canadian heavy crude spreads and and sees Cenovus along with MEG Energy (MEGEF) as most exposed, Wong tells investors. He keeps a C$13 price target on Cenovus shares.
News For CVE;MEGEF From the Last 2 Days
Oct 15, 2021 | 11:58 EDT
CIBC analyst Dennis Fong raised the firm's price target on Cenovus Energy to C$22 from C$20 and keeps an Outperformer rating on the shares.