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

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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Comments (4)
  • john001
    , contributor
    Comments (1201) | Send Message
    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 2013, 11:42 AM Reply Like
  • rjj1960
    , contributor
    Comments (1471) | Send Message
    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 2013, 01:25 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (10652) | Send Message
    Sell-side indifference to ongoing merger arbitrage opportunities can be helpful to keep open spreads.
    15 Jan 2013, 11:53 AM Reply Like
  • happyguy
    , contributor
    Comments (239) | Send Message
    Some kind of nonsense. CNOOC takeover is still pending, hasn't closed. What are they talking about?
    15 Jan 2013, 08:12 PM Reply Like
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