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Fly News Breaks for December 6, 2019
ECA
Dec 6, 2019 | 06:09 EDT
Barclays analyst Jeanine Wai downgraded Encana to Equal Weight from Overweight with a price target of $5, down from $11. The analyst says the downgrade is primarily based on leverage and the company's "below-average" total return yield. While Encana has had positive operational momentum in the STACK with lower costs and six-month oil production exceeding its type curve, the STACK is a "show-me" story that will take time to prove out, Wai tells investors in a research note.
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