EnCana "sector outperform," target price raised

05/28/08 - Peters & Co

NEW YORK, May 28 (newratings.com) - Analyst Kam Sandhar of Peters & Co maintains his "sector outperform" rating on EnCana Corp (ECA). The target price has been raised from $105 to $115.

In a research note published yesterday, the analyst mentions that the company has a quality asset base and the best inventory among its peers. EnCana’s net asset value growth is well defined and the company’s split into two entities, namely GasCo and IOCo, would enable the investors to better understand the vast inventory, the analyst says. IOCo would generate substantial net asset value growth going forward from its repeatable oil sands projects, Peters & Co adds.