RBC Capital Markets on Monday reiterated its sector-perform rating on the shares of Ovintiv (OVV.TO, OVV) and its US$54.00 price target following third-quarter results from the oil and gas producer.
"Ovintiv delivered another operationally strong quarter and released a favorable guidance update. Balance sheet deleveraging progressed in the quarter and is expected to continue to gain traction in the fourth-quarter, which is an important driver of the stock's relative performance in our view. We have an open mind on Ovintiv, but are
maintaining a Sector Perform rating and our one-year target price of $54 per share," analyst Greg Pardy wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 59.31, Change: -0.76, Percent Change: -1.27
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