Wall Street Analysts See Upside Potential for 5 Stocks with Rising Price Targets

03. Ovintiv Inc. (NYSE:OVV)

Upside Potential: 46%

As of October 4, UBS Group has set a higher target for Ovintiv Inc. (NYSE:OVV), elevating it from $62.00 to $64.00 while affirming a “Buy” rating. This adjustment, situated within the dynamic realm of the energy sector, reflects UBS Group’s optimistic projection for Ovintiv Inc. (NYSE:OVV) forthcoming opportunities. Despite this upgraded target, the current stock price for Ovintiv stands at $43.85, revealing a 4.3% retreat subsequent to the target adjustment. The escalated target from UBS Group signals a favorable sentiment regarding Ovintiv Inc. (NYSE:OVV) growth trajectory, potentially influenced by the ever-evolving trends within the energy industry, strategic maneuvers by the company, or broader market dynamics. The steadfast “Buy” recommendation is a testament to UBS Group’s unwavering confidence in Ovintiv Inc. (NYSE:OVV) as a compelling investment within the dynamic energy landscape.

Smead Value Fund made the following comment about Ovintiv Inc. (NYSE:OVV) in its first quarter 2023 investor letter:

“Our biggest detractors were mainly a function of the decline in oil and gas prices. Ovintiv Inc. (NYSE:OVV), which absorbed some of our Continental Resources proceeds and Conoco Phillips (COP), declined the most. Bank of America (BAC) got hammered by the Silicon Valley Bank meltdown and fears about our financial system. We’ve owned BAC for over ten years and it has outperformed the rest of our portfolio.”