BMO Capital Upgrades Encana Corporation (USA) to Outperform with Price Target $7.50

Brokerage firm BMO Capital Upgrades its rating on Encana Corporation (USA)(NYSE:ECA). In a research note issued to the investors, the brokerage major Raises the price-target to $7.50 per share. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by BMO Capital was issued on Apr 11, 2016.

In a different note, On Feb 25, 2016, CIBC said it Downgrades its rating on Encana Corporation (USA). The shares have been rated ‘Underperform’ by the firm. On Jan 28, 2016, Barclays said it Maintains its rating on Encana Corporation (USA). In the research note, the firm Lowers the price-target to $6.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jan 26, 2016, UBS said it Downgrades its rating on Encana Corporation (USA). The shares have been rated ‘Neutral’ by the firm. On Jan 21, 2016, Deutsche Bank said it Maintains its rating on Encana Corporation (USA). According to the research note, Deutsche Bank Lowers the price target to $6 per share from a prior target of $7. The shares have been rated ‘Buy’ by the firm. On Jan 21, 2016, Nomura said it Maintains its rating on Encana Corporation (USA). According to the research note, Nomura Lowers the price target to $8 per share from a prior target of $12. The shares have been rated ‘Buy’ by the firm.

Encana Corporation (USA) (ECA) shares turned negative on Fridays trading session with the shares closing down -0.19 points or -2.77% at a volume of 99,94,471. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.82. The peak price level was also seen at $6.82 while the days lowest was $6.51. Finally the shares closed at $6.67. The 52-week high of the shares is $14.73 while the 52-week low is $3. According to the latest information available, the market cap of the company is $5,669 M.

Encana Corporation (USA)(ECA) last announced its earnings results on Feb 24, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.03B. Analysts had an estimated revenue of $994.00M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.01.

Encana Corporation is engaged in the business of the exploration development production and marketing of natural gas oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within Canada; USA Operations which includes the exploration for development of and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments product type delivery points and customer diversification. Market Optimization sells all of the Company’s upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin and San Juan.

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