Ovintiv initiated with a Neutral at Roth Capital

Roth Capital initiated coverage of Ovintiv (OVV) with a Neutral rating and $42 price target The company has focused its operations significantly over the past few years, and the firm believes that the three-legged stool of assets – Permian, Canadian Montney, and Mid-continent – is a unique operational footprint with a diverse mix of regions and commodity weightings, the analyst tells investors in a research note. Roth adds however that it sees valuation as appropriate for the stock due to few expected upside surprises from its Permian base and limited interest from U.S. investors in Canadian asset exposure.