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J.P. Morgan upgrades Cenovus (CVE) to Overweight, citing its attractive production growth...

  • Tuesday, January 15, 11:19 AM ET
    J.P. Morgan upgrades Cenovus (CVE) to Overweight, citing its attractive production growth profile due to development of large-scale oil sands and heavy oil resources, while cutting Nexen (NXY) to Neutral based on limited upside as the Cnooc takeover closes. Suncor (SU) remains the firm's favorite Canadian integrated energy, citing the potential to generate at least $2B/year in free cash flow.
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This news story has 4 comments:

  •  
    J.P........with pipeline constraints, how is Cenovus going to attain "production growth"? Oh, I forgot...Obama is going to approve Keystone today.
    15 Jan, 11:42 AM Reply Like
  •  
    Both CVE & SU refine their own feedstock, this is a major advantage. When Obama rejects the XL, look for rail lines to be laid all over Canada.
    15 Jan, 01:25 PM Reply Like
  •  
    Sell-side indifference to ongoing merger arbitrage opportunities can be helpful to keep open spreads.
    15 Jan, 11:53 AM Reply Like
  •  
    Some kind of nonsense. CNOOC takeover is still pending, hasn't closed. What are they talking about?
    15 Jan, 08:12 PM Reply Like
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