Cenovus Appeals to MEG Energy Shareholders Regarding Updated Strathcona Offer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 19 2025
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Source: SeekingAlpha
Cenovus Energy's Bid for MEG Energy: CEO Jon McKenzie defended Cenovus's cash-and-stock offer for MEG Energy, claiming it is "fair and final," and that there is no precedent for MEG being valued higher than their bid.
Competing Offers and Shareholder Vote: MEG's board supports Cenovus's offer, but Strathcona Resources has made a competing bid, which has raised concerns about the liquidity and valuation of Strathcona's shares; the MEG shareholder vote is scheduled for October 9.
Analyst Views on CVE
Wall Street analysts forecast CVE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CVE is 22.66 USD with a low forecast of 20.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 18.430
Low
20.00
Averages
22.66
High
32.00
Current: 18.430
Low
20.00
Averages
22.66
High
32.00
About CVE
Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream and Downstream. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing and the United States Manufacturing. The Company's Upstream operations include oil sands projects in northern Alberta, in-situ thermal oil production at Christina Lake in northeast Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. Its Downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.
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.
