Encana Corporation ECA (NYSE:ECA): Wolfe Research Reaffirms “Outperform” Rating Today, Has a Target of $13.00/Share

June 19, 2017 - By Stephen Andrade

 Encana Corporation ECA (NYSE:ECA): Wolfe Research Reaffirms

Encana Corporation ECA (NYSE:ECA) Rating Reaffirmed

In a research note revealed to investors on 16 June, The “Outperform” rating of Encana Corporation ECA (NYSE:ECA) shares was restate by Wolfe Research, who now has a $13.00 target price on the stock. Wolfe Research’s target price means a possible upside of 47.90 % from the last stock price of the company.

Encana Corp (USA) (NYSE:ECA) Ratings Coverage

Among 25 analysts covering Encana Corporation (NYSE:ECA), 17 have Buy rating, 2 Sell and 6 Hold. Therefore 68% are positive. Encana Corporation has $16 highest and $5.50 lowest target. $11.73’s average target is 33.75% above currents $8.77 stock price. Encana Corporation had 69 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Encana Corp (USA) (NYSE:ECA) has “Sector Perform” rating given on Thursday, February 25 by RBC Capital Markets. Macquarie Research upgraded Encana Corp (USA) (NYSE:ECA) on Tuesday, January 24 to “Outperform” rating. On Tuesday, July 28 the stock rating was upgraded by FirstEnergy Capital to “Outperform”. The rating was upgraded by Citigroup to “Buy” on Friday, September 30. The rating was maintained by Barclays Capital on Wednesday, January 6 with “Equal-Weight”. The rating was upgraded by Goldman Sachs to “Buy” on Friday, September 11. Evercore downgraded the stock to “Hold” rating in Friday, April 15 report. The firm has “Buy” rating by KLR Group given on Monday, November 7. Barclays Capital upgraded Encana Corp (USA) (NYSE:ECA) on Tuesday, October 11 to “Overweight” rating. The firm earned “Market Perform” rating on Tuesday, December 22 by BMO Capital Markets.

About 987,659 shares traded. Encana Corp (USA) (NYSE:ECA) has risen 50.13% since June 19, 2016 and is uptrending. It has outperformed by 33.43% the S&P500.

Wall Street await Encana Corp (USA) (NYSE:ECA) to release earnings on July, 20. Analysts forecast EPS of $0.05, down exactly $0.05 or 50.00 % from 2014’s $0.1 EPS. The expected ECA’s profit could reach $48.58 million giving the stock 43.90 P/E in the case that $0.05 earnings per share is reported. After posting $0.11 EPS for the previous quarter, Encana Corp (USA)’s analysts now forecast -54.55 % negative EPS growth.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids producing plays. The company has market cap of $8.53 billion. The Company’s activities also include the marketing of natural gas, oil and NGLs. It currently has negative earnings. All of its reserves and production are located in North America.

Another recent and important Encana Corp (USA) (NYSE:ECA) news was published by Fool.ca which published an article titled: “Encana Corp.: Buy the Dip?” on March 20, 2017.

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