January 16, 2018 / 2:52 PM / 7 months ago

BUZZ-Encana Corp: RBC ups PT on capital program position

** Analysts at RBC Capital Markets raise PT on the Canadian oil and gas producer’s U.S. stock to $16 from $15, citing company’s current stance in its 5-year capital program

** The company, earlier this month, said it plans to invest almost all its anticipated 2018 capital in its four core assets to boost output growth rate

** ECA’s activity levels, currently running 20 rigs and 7 frac spreads at peak rates, are about right - RBC

** Analysts add that higher commodity prices should drive margins, not increase costs

** U.S. crude trading at $64.02/barrel, up 22 pct over the last 12 months

** Wall Street very bullish on ECA, with 23 of 28 brokerages rating “buy” or higher, rest maintaining “hold”; median PT $16

** ECA up 7.2 pct on NYSE over the past 12 months (Reporting by Ahmed Farhatha in Bengaluru)

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