Amcor stock falls after Raymond James reiterates Market Perform rating
Investing.com - TD Cowen has reiterated its Buy rating on Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) with a price target of C$27.00. According to InvestingPro analysis, the stock appears undervalued at its current price of $14.93, with a market capitalization of $26.8 billion.
The firm indicated that Cenovus’s second-quarter results have addressed most investor concerns about the company, maintaining its status as a top pick in the energy sector. InvestingPro data shows the company maintains a FAIR financial health score, with strong EBITDA of $6.2 billion over the last twelve months and a consistent dividend yield of 3.92%.
TD Cowen highlighted that with major U.S. downstream maintenance now complete, costing approximately $900 million over an 18-month period, Cenovus is positioned to demonstrate its U.S. downstream capabilities in the third quarter.
The research note pointed out that the first of several free cash flow generating upstream projects, Narrows Lake, is now operational, while the West White Rose project is scheduled to produce its first oil in the second quarter of 2026.
According to TD Cowen’s estimates, these developments will trigger a free cash flow inflection in 2026 and beyond, with projected capital expenditure of $4.1 billion in 2026, representing a $700 million decrease year-over-year.
In other recent news, Cenovus Energy reported impressive financial results for the second quarter of 2025, significantly outperforming analysts’ expectations. The company achieved an earnings per share of $0.33, which was a substantial increase over the anticipated $0.09, resulting in a 276.2% surprise. Revenue figures also surpassed projections, reaching $10.51 billion compared to the expected $8.68 billion, marking a 21.08% surprise. These developments highlight the company’s robust financial performance during this period. There were no additional updates regarding mergers or acquisitions. Analyst firms have not provided any recent upgrades or downgrades for Cenovus Energy. Investors may find these earnings and revenue results noteworthy as they reflect the company’s current financial health. These recent developments provide a factual basis for understanding Cenovus Energy’s performance in the market.
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