Ovintiv price target lowered to $54 from $55 at Citi

Citi lowered the firm’s price target on Ovintiv (OVV) to $54 from $55 and keeps a Buy rating on the shares. The firm updated models in the oil and gas exploration and production group following the Q3 reports. It sees opportunities for continuation of recent efficiency improvement trends, potential upside to known synergy capture and efforts to improve longer term gas monetization.