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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (115197)	11/5/2021 2:56:25 PM
From: Goose94	Read Replies (2) of 202988

Cenovus Energy (CVE-T) revisited 4.0 Eric Nuttall on BNN.ca Market Call Friday Nov 5th @ 1200ET With CVE on the cusp of reaching their initial deleveraging target, they have committed to buying back 7 per cent of their float. Trading at a material discount to Canadian and U.S. peers, we look for significant multiple expansion as the company continues to deleverage and return capital back to shareholders. Trading at 3.7X EV/CF and a 23 per cent free cash flow yield at US$70 WTI, we see the ability to meaningfully increase the dividend and announced buyback in 2022. With a target multiple of 6x we see more than 100 per cent potential upside at US$80WTI.

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