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Upgrade Alert for Cenovus Energy (CVE)

By David Diaz

Cenovus Energy (NYSE:CVE) was upgraded from Underweight to Overweight at Barclays Capital today. The stock closed yesterday at $14.01 on volume of 2.4 million shares, above average daily volume of 2.1 million.

In the past 52 weeks, Cenovus Energy share prices have been bracketed by a low of $9.10 and a high of $19.28 and closed yesterday at $14.01, 54% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 2.61% higher over the past week, respectively.

Cenovus Energy Inc. is an integrated oil company. The Company comprises natural gas, crude oil, and natural gas liquids reserves.

There is potential upside of 23.8% for shares of Cenovus Energy based on a current price of $14.01 and an average consensus analyst price target of $17.34. Cenovus Energy shares have support at the 200-day moving average (MA) of $13.63 and additional support at the 50-day MA of $13.38.

SmarTrend is tracking the current trend status for Cenovus Energy and will alert subscribers who have CVE in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades cenovus energy

Ticker(s): CVE