Willa L. Moore
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The Pullback In Encana Shares Is An Investment Opportunity

Encana Corp (USA) ECA 0.72% reported a fourth-quarter adjusted earnings per share that trailed expectations Thursday. But  the energy company's discretionary cash flow per share after common stock fell in line with the consensus, Societe Generale said in an upgrade note.

The Analyst

Societe Generale analyst John Herrlin upgraded Encana from Hold to Buy, with an unchanged 12-month price target of $14.80.

The Thesis

Encana shares have declined about 20 percent year-to-date despite the company positioning to generate positive free cash flow in 2018 and experiencing production growth, Herrlin said in a Thursday note. 


There is a breakout of the falling channel, more upside is expected.