UBS on Tuesday reiterated its buy rating on the shares of Ovintiv (OVV.TO, OVV) and its US$52.00 price target as it previewed the oil and gas producer's third-quarter results.

"We reiterate our Buy rating and $52PT into 3Q results. We increase our 3Q25E CFPS to $3.22 from $3.02, but remain below Street's $3.41, likely due to lower NGL and natural gas realizations. Operationally, we see positive Montney operational momentum building off the POU acquisition, providing an offset to continued AECO headwinds. We look for more evidence of OVV executing on the $1.5mm/well savings and potential for further downside to capex. While debt levels remain the key concern, we see the improving capital efficiency gains and potential strategic moves supporting a stronger FCF and shareholder return profile," 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: 54.83, Change: -1.09, Percent Change: -1.95