CA - Crescent Point Gets Hit On The Head With A Hammer
2024-01-23 18:00:00 ET
Summary
- We had Crescent Point Energy Corp. downgraded to "Hold" due to the expected drop in free cash flow yields and poor capital transactions.
- The stock has dropped significantly, lagging behind the broader market and Canadian energy ETFs.
- The gassy acquisition will be regretted in 2024 as the front-end AECO strip gets obliterated.
We changed our outlook on our last coverage of Crescent Point Energy Corp. ( CPG , CPG:CA ). While we had endorsed the bull case in 2022 and earlier in 2023 (twice), we downgraded this one to a "Hold" in November 2023....
Crescent Point Gets Hit On The Head With A Hammer