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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (146376)	6/4/2023 6:38:15 AM
From: Goose94	Read Replies (1) of 202922

Cenovus Energy (CVE-T) revisited top pick from Eric Nuttall on BNN.ca Market Call May 31st 2023 @ 1200ET Cenovus appears to be on the cusp of meaningful improvements in its downstream operations, something that has plagued the company for over a year (the new chief executive officer recently bought $1 million in stock personally while guiding for normalized operations in the coming months). With the company hitting its final debt target in the fourth quarter of this year and pledging to return 100 per cent of free cash flow back to investors thereafter, we believe the company could either pay a dividend (or buy back the equivalent) of 16-24 per cent at US$80/$100WTI. We believe fair value is 6X EV/CF = 74-130 per cent upside at US$80/$100WTI.

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