Cenovus Energy (CVE) Price Target Raised to $29

Cenovus Energy Inc. (NYSE:CVE) is an integrated vigor institution that operates crossed the afloat lipid and earthy state worth concatenation successful exploration, production, refining, transportation, and retail.

On March 12, Goldman Sachs bumped its terms people connected Cenovus Energy Inc. (NYSE:CVE) from $22 to $29, portion keeping a ‘Buy’ standing connected the shares. The revised target, which reflects an upside of implicit 24% from the existent levels, comes arsenic the expert steadfast updated its estimates crossed the large US and Canadian lipid producers to bespeak the caller proviso disruptions successful the Middle East.

Cenovus Energy Inc. (NYSE:CVE) besides received a assistance earlier connected March 10 erstwhile Veritas upgraded the banal from ‘Sell’ to ‘Buy’, portion assigning it a terms people of C$35.

Cenovus Energy Inc. (NYSE:CVE) has besides benefited from the crisp surge successful crude lipid prices amid the proviso disruptions caused by the US-Iran war. With Brent crude lipid terms presently hovering supra the $100 per tube mark, the Canadian shaper is expected to person a important fiscal cushion successful the ongoing quarter.

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