Ovintiv price target raised to $58 from $54 at TD Cowen

TD Cowen analyst Gabe Daoud raised the firm’s price target on Ovintiv to $58 from $54 and keeps an Outperform rating on the shares. The firm updated its model which suggests more upside remains should Permian well outperformance continue. The company remains a top pick given its positive rate of change in the field, FCF and ROC.