Encana Corporation (NYSE:ECA): Deutsche Bank Reiterates “Buy” Rating Today, Has a Target of $10.00/Share

Share

Encana Corporation (NYSE:ECA) Rating Reaffirmed

Encana Corporation (NYSE:ECA) just had their share rating of a ‘”Buy”‘ issued by research analysts at Deutsche Bank, who now has a $10.00 price target on the $5.79B market cap company or a 49.70% upside potential. This key information was disclosed in a recent research report on Wednesday morning.

From a total of 26 analysts covering Encana Corporation (NYSE:ECA) stock, 12 rate it a ”Buy”, 1 a “Sell”, and 14 a ”Hold”. This means that 44% of the ratings are positive. The highest target price is $20 while the lowest target price is $8. The mean of all analyst targets is $11.03 with a 51.18% above today’s ($6.76) stock price. Encana Corporation was the topic of 23 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. FirstEnergy Capital upgraded shares on December 4 to “Outperform” rating. Barclays Capital maintained shares with “Equal-Weight” rating and $8 target share price in a report from a September 8. Evercore upgraded ECA stock in a recent report from November 23 to “Buy” rating. FirstEnergy Capital upgraded the rating on July 28. FirstEnergy Capital has a “Outperform” rating and a $11.50 price target on shares. Finally, Citigroup maintained the stock with “Neutral” rating in a report issued on a September 14.

Approximately 8.64 million shares of stock traded hands. Encana Corporation (USA) (NYSE:ECA) has declined 51.30% since May 6, 2015 and is downtrending. It has underperformed by 50.51% the S&P500.

Encana Corporation (NYSE:ECA): Deutsche Bank Reiterates

Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids . The company has a market cap of $5.79 billion. The Firm operates through three business divisions: 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. It currently has negative earnings. Market Optimization sells all of the Company’s upstream production to third-party customers.

According to Zacks Investment Research, “EnCana Corporation is one of the world’s largest independent natural gas producers and gas storage operators.” Get a free copy of the Zacks research report on Encana Corporation (USA) (ECA).

COMMENTS: