Canada research roundup: Athabasca Oil, Cenovus Energy, Enbridge
ENB•Analysts revised ratings and price targets for several Canadian companies. Scotiabank raised Athabasca Oil’s target to C$12 from C$11, while National Bank of Canada cut Cenovus Energy’s to C$57 from C$60 and JPMorgan cut Enbridge’s to C$76 from C$81.
1. Selected target changes
Scotiabank raised its Athabasca Oil target price to C$12 from C$11, while BMO cut its target to C$12 from C$12.5. National Bank of Canada lowered its Cenovus Energy target to C$57 from C$60; other analysts raised Cenovus targets, including ATB Cormark Capital Markets, which increased its target to C$49 from C$42.5. JPMorgan cut its Enbridge target to C$76 from C$81.
2. Other research actions
ATB Cormark Capital Markets raised its Suncor Energy target to C$110 from C$108. Stifel initiated coverage of Goldsky Resources with a speculative buy rating and a C$6.2 target price. The roundup also included target changes and coverage actions for Aritzia, Aurora Cannabis, Coveo Solutions, Element Fleet Management and Hudbay Minerals.
