Ovintiv price target raised to $59 from $57 at Barclays

Barclays raised the firm’s price target on Ovintiv (OVV) to $59 from $57 and keeps an Overweight rating on the shares. The firm lowered its end-of-March gas storage forecast to 1.7 Tcf on impact of a cold January, which it says cuts down the storage buffer just as liquified natural gas is ramping up and production growth is expected to slow. Barclays raising 2025-2026 gas prices to $4.00 and updating price targets for the gas-levered exploration and production companies.