UBS on Friday reiterated its buy rating on the shares of Ovintiv (OVV.TO, OVV) with a US$43.00 price target following second-quarter results from the oil and gas producer.
"We view OVV's 2Q update as positive. OVV beat across all key 2Q metrics and improved the FY25 volume/capex outlooks. We also believe OVV is leaving room for further capital efficiency improvements to come in 2H25, as the capex reductions came in the Permian and Anadarko. Based on our Montney tour takes, we see capex here having downside risk, supporting further financial strength heading into FY26. The bar was high, but we believe they beat it. Reiterate Buy," the investment bank wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 57.03, Change: +2.49, Percent Change: +4.57
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