JP Morgan Upgrades Ovintiv: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has upgraded its rating of Ovintiv (NYSE:OVV) to Overweight with a new price target of $58.00, down from the previous $61.00. Ovintiv's shares are currently trading at $42.30, and the new price target suggests a potential upside of 37.12%. Ovintiv is an independent oil and gas producer with significant reserves and production levels.
December 06, 2023 | 5:00 pm
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JP Morgan upgraded Ovintiv to Overweight with a lower price target of $58.00 from $61.00. The stock is trading at $42.30, with the new target representing a 37.12% potential increase.
The upgrade by JP Morgan to an Overweight rating is a positive signal for investors, indicating a bullish outlook on Ovintiv's stock. Although the price target has been slightly reduced from $61 to $58, it still represents a significant potential increase from the current trading price. This upgrade is likely to instill confidence among investors and could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100