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CA - The Negativity Toward Cenovus Energy Is Overdone
CA Inc.
2024-06-12 15:00:25 ET
Summary
Cenovus Energy Inc. has underperformed its peers.
We expect near-term catalysts to improve sentiment and push Cenovus Energy shares higher over the coming months.
Longer-term gains will come from the company’s powerful economic model and higher oil prices.
Cenovus Energy Inc. ( CVE ) stock has lagged its large oil sands peers—badly. Since the beginning of 2023, it's gained 6.97%, versus 36.92% and 27.20% for Canadian Natural Resources ( CNQ ) and Suncor Energy ( SU ), respectively....