Wells Fargo analyst Roger Read maintains $Ovintiv (OVV.US)$ with a hold rating, and maintains the target price at $48.
According to TipRanks data, the analyst has a success rate of 56.8% and a total average return of 8.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ovintiv (OVV.US)$'s main analysts recently are as follows:
The firm estimates that the company is concluding its involvement in Uinta at a multiple of 5.5 times the 2025 EBITDX, and engaging in Montney at 4.5 times, with a slightly positive effect on the balance sheet. This transition is assessed to enhance the company's long-term free cash flow, upgrade the quality of Montney inventory, and prolong the development timeline, making it a favorable outcome on multiple fronts.
Doubling down on flagship Montney assets while streamlining the portfolio with minimal net investment is viewed positively. This strategy also helps eliminate M&A overhang on the company's shares.
Note:
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