Ovintiv upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Greg Pardy upgraded Ovintiv (OVV) to Outperform from Sector Perform with an unchanged price target of $55. The firm believes the depth of the company’s position in the Montney provides energy investors an attractive and inexpensive way to gain exposure to an emerging oil and condensate resource play. Ovintiv has delivered “impressive” operational and financial performance over a series of quarters, the analyst tells investors in a research note.