TD Securities analyst Aaron Bilkoski downgraded Crescent Point Energy to Buy from Action List Buy with an unchanged price target of C$13.50. Crescent Point has made “significant progress” repositioning its business since Craig Bryksa assumed the CEO role, but the successful asset repositioning and demonstrated results in both the Duvernay and Montney are “now more appreciated by the market” as evidenced by the 17% year-to-date share price outperformance versus Whitecap and Enerplus, the analyst tells investors.
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