Analyst Rating Update on Encana Corporation (ECA)

Encana Corporation (ECA) has an average broker rating of 2.67, which is interpreted as a Hold, as rated by 15 equity analysts. Nonetheless, 5 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy. 3 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Encana Corporation (ECA) : 13 Wall Street analysts covering Encana Corporation (ECA) believe that the average level the stock could reach for the short term is $9.77. The maximum price target given is $15 and the minimum target for short term is around $8, hence the standard deviation is calculated at $2.39.

Company shares have received an average consensus rating of Hold for the current week Also, FirstEnergy upgrades its view on Encana Corporation (NYSE:ECA) according to the research report released by the firm to its investors. The shares have now been rated Market Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Outperform. The rating by the firm was issued on July 26, 2016.

Encana

Encana Corporation (NYSE:ECA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.84 and $7.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.20, notching a gain of 4.99% for the day. The total traded volume was 14,686,687 . The stock had closed at $7.81 on the previous day.

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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