Cenovus Energy Inc. (NYSE:CVE) is included among the The 12 Most Undervalued Natural Gas Stocks to Buy Now.
Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company operating across the oil and natural gas value chain in exploration, production, refining, transportation and retail.
On April 9, UBS raised its price target for Cenovus Energy Inc. (NYSE:CVE) from C$36 to C$41, while maintaining a “Buy” rating on the stock. The elevated target reflects an upside of more than 17% from the current share price.
Similarly, earlier on April 7, BMO Capital also raised its price target on Cenovus Energy Inc. (NYSE:CVE) from $35 to $42, while maintaining an “outperform” rating on the stock. The target increase comes as the analyst firm adjusted its models with updated market valuation assumptions in the first quarter, reflecting the impact of the Middle East conflict and ongoing oversupply issues affecting the North American natural gas market.
Oil and gas markets remain in suspense, waiting for President Trump’s next move. According to the company, the end of the war between the United States and Iran would allow the resumption of flows through the Hormuz waterway, which would reduce crude oil prices to the trading range of $75 to $85 per barrel. On the other hand, if current peace efforts fail and hostilities escalate, we could even see oil prices soar to levels of $150 to $200 per barrel. While the analyst firm expressed concern about the heavy economic impact of a protracted conflict, it expressed its belief that the war would end by the end of this month.
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