NewsEnCana "equal weight," target price raised - update
04/24/08 - Lehman Brothers
NEW YORK, April 24 (newratings.com) - Analyst Thomas R Driscoll of Lehman Brothers maintains his "equal weight" rating on EnCana Corp (ECA), while raising his estimates for the company. The target price has been raised from $78 to $82.
In a research note published yesterday, the analyst mentions that the company has posted its 1Q08 adjusted EPS ahead of the estimates. The gas price estimates for 2008 and 2009 have been raised by $0.75 to $8.75/mmBtu and by $0.25 to $8.00 mmBtu, respectively. The WTI price estimates for 2008 and 2009 have been raised by $10/bbl to $97.50/bbl and by $10/bbl to $85/bbl, respectively. The EPS estimates for the current year and the next year have been raised from $4.85 to $5.75 and from $4.30 to $4.80, respectively.