Zacks Investment Research upgraded shares of Encana Corporation (ECA) from NEUTRAL to OUTPERFORM on July 09, 2013, with a target price of $20.00.
We are upgrading Encana Corp. shares to Outperform from Neutral. Encana has one of the largest natural gas resource portfolios in North America, which provides a diverse/high quality inventory of reserves. We see a solid long-term future for the company as demand for natural gas soars, spurred by its cost effectiveness and abundant supply in North America. A prudent asset disposition strategy and an ever-increasing share of liquids production are other positives in the Encana story. Considering these factors, we believe Encana is well positioned going forward and consider it an attractive investment.
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