Saturday, November 05, 2016

With OPEC Deal Still In Doubt, Encana Upgrade May Be Premature

Encana Corp upgraded on plan to grow oil and gas derivatives by 60%

Encana Corp. was upgraded to outperform from sector perform at RBC Capital Markets following third-quarter results that generally exceeded forecasts. But what impressed analyst Greg Pardy most, was the company's game plan to grow its high-margin oil and natural gas condensate production through 2021. "We recently signaled that we would add Encana on weakness – and…