Price Target Update on Encana Corporation (NYSE:ECA)

Encana Corporation (NYSE:ECA) : Average target price received by Encana Corporation (NYSE:ECA) is $8.96 with an expected standard deviation of $2.71. The most aggressive target on the stock is $15, whereas the most downbeat target is $6. 12 financial analysts are currently covering the stock.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Deutsche Bank maintains its ratings on Encana Corporation (NYSE:ECA). In the latest research report, Deutsche Bank raises the target price from $10 per share to $11 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 14, 2016.

Encana Corporation (NYSE:ECA): stock turned positive on Thursday. Though the stock opened at $8.23, the bulls momentum made the stock top out at $8.32 level for the day. The stock recorded a low of $8.09 and closed the trading day at $8.32, in the green by 2.21%. The total traded volume for the day was 11,697,056. The stock had closed at $8.14 in the previous days trading.

The company shares have dropped -29.52% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $11.96 and the one year low was seen on Feb 23, 2016. The 50-Day Moving Average price is $7.58 and the 200 Day Moving Average price is recorded at $5.85.

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 Companys 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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