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.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on OVV:
- Ovintiv downgraded to Market Perform from Outperform at BMO Capital
- Ovintiv Reports Fourth Quarter and Year-end 2022 Financial and Operating Results
- Ovintiv sees FY23 production volumes 500-525 MBoe/d
- Ovintiv reports Q4 EPS $5.30, consensus $1.87
- Ovintiv options imply 3.7% move in share price post-earnings
