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研究報告提醒:CFRA 將 Cenovus Energy Inc. 的評級從「持有」下調至「賣出」。

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-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下:我們將CVE的評級從“持有”下調至“賣出”,因為同行認為WTI原油價差擴大的速度將超過WCS原油價差擴大的速度,並且隨著時間的推移,全球經濟需求下滑的可能性越來越大。 CVE迄今已從中受益,但價格下行波動仍存在風險。我們將12個月目標價下調至35加幣。這相當於我們2027財年EBITDA預期值的5.5倍。 CVE的長期平均本益比為5.7倍。我們將2026財年每股收益預期上調至3.89加幣(+0.42),2027財年每股收益預期上調至2.80加幣(+0.05)。 CVE 將利用油價的「暴漲」積極降低成本,然而,同行營運效率更高(SU),並且可以根據需要將所有多餘的自由現金流返還給股東(SU,IMO),而 CVE 目前只能返還 50% 的多餘自由現金流。

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