March 7, 2019 / 1:47 PM / 7 months ago

BUZZ-Encana: CS says some non-core assets could fetch >$4 bln, rates 'outperform'

** Credit Suisse restarts coverage of Canada-based oil and gas producer with “outperform” and PT of $10; an upside of ~43 pct to ECA’s last close

** Brokerage notes ECA’s 4 non-core assets could be divestiture candidates; says those assets could be worth over $4 bln

** ECA offers attractive high-single-digit liquids growth, competitive debt-adjusted growth, and above-average ~7 pct free cash flow yield - CS

** Co produces crude oil and natural gas liquids from its oilfields in Canada and the United States

** Co sees high-single-digit per annum growth at relatively conservative commodity price assumptions, enabling ~$400-$500 mln per year in surplus free cash flow - CS

** ECA’s U.S.-listed stock has risen ~21 pct YTD (Reporting by John Benny in Bengaluru)

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