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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (152785)	9/29/2023 1:24:19 PM
From: Goose94	Read Replies (1) of 202922

Cenovus Energy (CVE-T) revisited 2.0 top pick from Eric Nuttall on BNN.ca Market Call Friday September 29th @ 1200ET Cenovus should reach their final debt target of $4 billion by the end of December or January allowing them to pivot to returing 100 per cent of free cashflow back to shareholders. Trading at a 17 per cent free cashflow yield at US$90WTI, we see the company buying back 10 per cent of their shares via a NCIB and the residualseven per cent via a SIB in the second half of 2024. We think fair value is six times enterprise value to free cash flow (EV/CF) = $43 at US$90WTI = 51 per cent potential upside.

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