Cenovus Energy Included in Top Dividend Picks by Billionaire Steven Cohen
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2026
0mins
Source: Yahoo Finance
- Rating Upgrade: On June 26, Scotiabank initiated coverage of Cenovus Energy (CVE) with an Outperform rating and a C$47 price target, indicating that despite strong gains in Canadian oil and gas stocks, there remains further upside potential.
- Production Forecast Increase: Goldman Sachs raised its price target for CVE from $32 to $36 on May 13, reiterating a Buy rating, as it expects an inflection point in production volumes and free cash flow with the West White Rose project coming online.
- Optimistic Market Outlook: Analysts highlighted additional upside from Cenovus's Christina Lake North and robust commodity prices, which will enhance the company's competitiveness in the energy market and drive stock performance.
- Integrated Energy Company: Cenovus Energy operates as an integrated energy company with oil and natural gas production in Canada and the Asia Pacific, alongside upgrading, refining, and marketing operations in Canada and the U.S., showcasing its diversified business model and market adaptability.
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Analyst Views on BNS
Wall Street analysts forecast BNS stock price to fall
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 87.350
Low
68.69
Averages
75.58
High
79.76
Current: 87.350
Low
68.69
Averages
75.58
High
79.76
About BNS
The Bank of Nova Scotia (the Bank) is a chartered Schedule I bank. The Bank is a global financial services provider offering a range of products and services, including personal, commercial, corporate and investment banking. Its segments include Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. Canadian Banking segment provides a full suite of financial advice and banking solutions. Canadian Banking segment comprises retail banking and business banking. International Banking segment is a diverse franchise that provides financial advice and solutions to retail, corporate, and commercial clients. Its geographic presence spans over 15 countries including Mexico, Chile, and Peru. Global Wealth Management segment is comprised of wealth management and asset management businesses. Global Banking and Markets segment provides corporate clients with lending and transaction services, investment banking advice and access to capital markets.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Rating Upgrade: On June 26, Scotiabank initiated coverage of Cenovus Energy (CVE) with an Outperform rating and a C$47 price target, indicating that despite strong gains in Canadian oil and gas stocks, there remains further upside potential.
- Production Forecast Increase: Goldman Sachs raised its price target for CVE from $32 to $36 on May 13, reiterating a Buy rating, as it expects an inflection point in production volumes and free cash flow with the West White Rose project coming online.
- Optimistic Market Outlook: Analysts highlighted additional upside from Cenovus's Christina Lake North and robust commodity prices, which will enhance the company's competitiveness in the energy market and drive stock performance.
- Integrated Energy Company: Cenovus Energy operates as an integrated energy company with oil and natural gas production in Canada and the Asia Pacific, alongside upgrading, refining, and marketing operations in Canada and the U.S., showcasing its diversified business model and market adaptability.
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