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Several investment firms have updated their stock ratings and price targets on shares of Encana (NYSE: ECA) in the last week:

  • Encana had its price target raised by analysts at Societe Generale from C$19.00 to C$25.00. They now have a “hold” rating on the stock.
  • Encana had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $24.00 price target on the stock. Zacks‘ analyst wrote, “Ahead of the first quarter earnings, we are maintaining our Neutral recommendation on shares of Encana Corp. due to limited near term price upside. Encana has one of the largest natural gas resource portfolios in North America, providing a diverse/high quality inventory of reserves. We see a solid long-term future for the company as demand for natural gas soars, spurred by its cost effectiveness and abundant supply in North America. However, at the same time, Encana’s sizeable exposure to volatile natural gas prices remains a key area of concern, in our view. The growing popularity of renewable sources of energy, challenging market dynamics and cost inflation have also held back the stock.”
  • Encana had its “neutral” rating reaffirmed by analysts at Credit Suisse. They now have a $27.00 price target on the stock, up previously from $22.00.
  • Encana had its price target raised by analysts at RBC Capital from C$26.00 to C$27.00. They now have an “outperform” rating on the stock.
  • Encana had its price target raised by analysts at Deutsche Bank from C$26.00 to C$30.00. They now have a “hold” rating on the stock.
  • Encana had its price target raised by analysts at CSFB from C$22.00 to C$27.00. They now have a “neutral” rating on the stock.
  • Encana had its price target raised by analysts at National Bank Financial from $25.50 to $28.00. They now have an “outperform” rating on the stock.
  • Encana had its “hold” rating reaffirmed by analysts at Citigroup Inc.. They now have a $23.00 price target on the stock, up previously from $20.00.

Encana Co. (NYSE:ECA) opened at 22.98 on Wednesday. Encana Co. has a 52-week low of $16.48 and a 52-week high of $23.93. The stock’s 50-day moving average is $22.39 and its 200-day moving average is $19.59. The company has a market cap of $17.026 billion and a price-to-earnings ratio of 70.50. Encana also was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 15,293,443 shares, a drop of 16.7% from the April 15th total of 18,364,432 shares. Based on an average daily volume of 4,882,304 shares, the short-interest ratio is currently 3.1 days. Currently, 2.1% of the shares of the company are short sold.

Encana Corporation (NYSE:ECA) is a North American energy producer.

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