Analysts Suggest There’s Still Momentum for Cenovus Energy Inc. (CVE), National Grid plc (NGG)

Cenovus Energy Inc. (NYSE:CVE) recent rally took place on significantly less volume which dipped to nearly 3.12 million contracts on 22-Nov-17 versus its daily average of 4.38 million. The first sale was made at $9.75 but later the stock became weaker, and closed with a gain of 1.04%. It was last traded at $9.71 apiece.

Cenovus Energy Inc. (CVE): Outperform Candidate With 14.42% Upside Potential

Cenovus Energy Inc. is maintained at an average outperform rating by 24 stock analysts, and there are at least 2.98% of shares outstanding that are currently legally short sold. The shares went up by 2.53% in value last month. Year-to-date it plunged -35.82%. Analysts are turning out to be more optimistic than before, with 12 of analysts who cover Cenovus Energy Inc. (NYSE:CVE) advice adding it to buy candidate list. Wall Street experts also assign a $11.11 price target on Cenovus Energy Inc., pointing towards a 14.42% rally from current levels. The stock is trading for about -42.27% less than its 52-week high.

Cenovus Energy Inc. Reports 20.52% Sales Growth

Cenovus Energy Inc. (CVE) remained successful in beating the consensus-estimated $0.14 as it actually earned $0.24 per share in its last reported financial results. Revenue, on the other hand, scored 20.52% growth from the previous quarter, coming up with $4.87 billion.

CVE Retreats -4.52% In A Week

This company shares (CVE) so far managed to recover 43.64% since collapsing to its 52-week low. Over a month, it has seen its stock price volatility to stay at 2.78% while shortening the period to a week, volatility was 3.14%. The share price has yet to cross its 20 days moving average, floating at a distance of -5.98% and sits -2.79% lower versus its 50 days moving average. When looking at the past five sessions, the stock returned -4.52% losses and is down by -0.21% compared with its 200-day moving average of $8.78. Also, Cenovus Energy Inc. (CVE) needs to overturn a -35.44% decrease it experienced over the past twelve months.

National Grid plc (NYSE:NGG) Consensus Call At 1

As regular trading ended, National Grid plc (NGG) stock brought in a -$0.04 drop to $58.68. The day started at a price of $58.7 but then traded as high as $58.97 before giving part of the gains back. As for this week, analysts appear content to stick with their bright outlook with the consensus call at 1. National Grid plc is given 1 buy-equivalent recommendations, 0 sells and 0 holds. The company shares sank -17.07% from their peak of $70.76 and now has a $39.61 billion market value of equity.

National Grid plc Could Grow 26.93% More

NGG’s mean recommendation on Reuter’s scale presents no change from 1 thirty days ago to 1 now, which indicates a buy consensus from the analyst community. They see National Grid plc (NGG) price hitting a mean target of $74.48 a share, meaning the stock still has potential that could lift the price another 26.93% Also, the recent close suggests the stock is underpriced by 26.93% compared to the most bullish target.

National Grid plc (NGG) Returns 0.09% This Year

The company had seen its current volume reaching at 0.64 million shares in the last trade. That compares with the recent volume average of 0.4 million. At the close of regular trading, its last week’s stock price volatility was 0.86% which for the month reaches 0.64%. National Grid plc dipped to as low as $58.46 throughout the day and has returned 0.09% in this year. At one point in the past year, the shares traded as low as $56.79 but has recovered 3.33% since then.

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