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ECA - Encana cut at Cowen on weak natural gas prices
Encana Corporation
Encana (ECA-8.3%) plunges to a 52-week low after Cowen downgrades shares to Market Perform from Outperform with a $5 price target, down from $6, seeing "deteriorating" fundamentals into 2021 amid a "backwardated" oil strip, depressed natural gas prices and the loss of hedge gains.
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