Encana Corp (TSE:ECA) Upgraded by TD Securities to Buy

Encana Corp (TSE:ECA) (NYSE:ECA) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “buy” rating in a report issued on Friday, June 30th, StockTargetPrices.com reports. The brokerage currently has a C$15.00 target price on the stock. TD Securities’ price objective would indicate a potential upside of 18.67% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a C$13.00 target price on shares of Encana Corp in a report on Wednesday, June 21st. Raymond James Financial, Inc. started coverage on shares of Encana Corp in a research report on Wednesday, May 31st. They set an “outperform” rating and a C$20.00 price target on the stock. AltaCorp Capital reissued a “sector perform” rating on shares of Encana Corp in a research report on Tuesday, May 2nd. Finally, Scotiabank reissued an “underperform” rating and set a C$18.00 price target on shares of Encana Corp in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Encana Corp has a consensus rating of “Buy” and an average price target of C$16.35.

Encana Corp (ECA) traded down 2.09% during midday trading on Friday, hitting $12.64. 3,768,342 shares of the stock traded hands. The stock has a 50-day moving average of $11.78 and a 200 day moving average of $14.43. The firm has a market cap of $12.30 billion and a PE ratio of 11.34. Encana Corp has a 52-week low of $9.75 and a 52-week high of $18.13.

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About Encana Corp

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.

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