Citigroup Upgrades Ovintiv to Buy, Raises Price Target to $52
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Brian Downey upgraded Ovintiv (NYSE:OVV) from Neutral to Buy and increased the price target from $48 to $52, indicating a positive outlook on the company's stock.
November 22, 2023 | 11:49 am
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POSITIVE IMPACT
Ovintiv's stock may see a positive short term impact due to Citigroup's upgrade from Neutral to Buy and a raised price target from $48 to $52.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they suggest a better-than-previously-expected performance and outlook for the company. The increase in price target further reinforces the positive sentiment, suggesting that the analyst sees more value in the stock than before.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100