Wells Fargo analyst Roger Read lowered the firm’s price target on Ovintiv to $64 from $71 on production/opex adjustments, while keeping an Overweight rating on the shares. The firm notes that Ovintiv remains attractively valued on robust free cash flow generation and cash returns in spite of higher cash taxes. No big guidance surprises a plus, Wells adds.
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Read More on OVV:
- Ovintiv downgraded to Market Perform from Outperform at BMO Capital
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