Cenovus Energy (CVE) Stock Forecast & Price Target

$19.77

+0.01 (+0.05%)

(As of 07/26/2024 ET)

Cenovus Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy
Based on 4 Analyst Ratings

Based on 4 Wall Street analysts who have issued ratings for Cenovus Energy in the last 12 months, the stock has a consensus rating of "Buy." Out of the 4 analysts, 4 have given a buy rating for CVE.

Consensus Price Target

$30.67
55.12% Upside

High Forecast	$34.00
Average Forecast	$30.67
Low Forecast	$28.00

According to the 4 analysts' twelve-month price targets for Cenovus Energy, the average price target is $30.67. The highest price target for CVE is $34.00, while the lowest price target for CVE is $28.00. The average price target represents a forecasted upside of 55.12% from the current price of $19.77.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Buy	Buy	Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	4 Buy rating(s)	4 Buy rating(s)	5 Buy rating(s)	3 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$30.67	$29.00	$26.67	$29.50
Forecasted Upside	55.12% Upside	61.79% Upside	51.29% Upside	71.71% Upside

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CVE Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CVE Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Cenovus Energy Stock vs. The Competition

Type	Cenovus Energy	Oils/Energy Companies	S&P 500
Consensus Rating Score	3.00	2.56	2.50
Consensus Rating	Buy	Moderate Buy	Moderate Buy
Predicted Upside	55.12% Upside	230.54% Upside	9.15% Upside
News Sentiment Rating	Positive News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
7/12/2024	Scotiabank 5 of 5 stars		Lower Target	Sector Outperform ➝ Sector Outperform	$35.00 ➝ $34.00	+70.85%
5/28/2024	Raymond James 4 of 5 stars	J. Mccrea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Moderate Buy
3/28/2024	Morgan Stanley 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$28.00 ➝ $30.00	+50.00%
2/23/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy
1/26/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$28.00	+76.66%
6/6/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$20.00 ➝ $22.00	+29.18%
2/17/2023	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$33.00 ➝ C$32.00
1/17/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$32.00 ➝ C$31.00
1/11/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$36.00 ➝ C$39.00
11/21/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$37.00 ➝ C$35.00
10/19/2022	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:44 AM ET.

CVE Forecast - Frequently Asked Questions

What is Cenovus Energy's forecast for 2024?: According to the research reports of 4 Wall Street equities research analysts, the average twelve-month stock price forecast for Cenovus Energy is $30.67, with a high forecast of $34.00 and a low forecast of $28.00.
Should I buy or sell Cenovus Energy stock right now?: 4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" CVE shares.
Does Cenovus Energy's stock price have much upside?: According to analysts, Cenovus Energy's stock has a predicted upside of 65.02% based on their 12-month stock forecasts.
Has Cenovus Energy been upgraded by Wall Street analysts recently?: Over the previous 90 days, Cenovus Energy's stock had 1 upgrade by analysts.
What analysts cover Cenovus Energy?: Cenovus Energy has been rated by research analysts at Raymond James, and Scotiabank in the past 90 days.
Do Wall Street analysts like Cenovus Energy more than its competitors?: Analysts like Cenovus Energy more than other "oils/energy" companies. The consensus rating for Cenovus Energy is Buy while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how CVE compares to other companies.