The Globe and Mail reports in its Friday, Nov. 3, edition that RBC Capital analyst Greg Pardy continues to rate Cenovus Energy "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Pardy hiked his share target by $2 to $32. Analysts on average the shares at $32.91. Mr. Pardy says in a note: "Cenovus's third quarter results reinforced our confidence in the company's integrated model and free cash flow generation. We recognize that there may be some market fatigue in terms of the company achieving its $4-billion net debt floor (which we now anticipate could occur in the first half of 2024), but we believe that patience will be rewarded. Meanwhile, Cenovus is distributing one-half of its free cash flow to shareholders." The Globe reported on May 31 that Mr. Pardy rated Cenovus "outperform." It was then worth $22.50. The Globe reported on Sept. 19 that Desjardins Securities analyst Chris MacCulloch said he was becoming "more cautious" on the energy sector. Nonetheless, he reaffirmed his "buy" recommendation for Cenovus. In the item he said, "Investors need to become more discriminating with respect to security selection." Cenovus shares could then be had for $27.87.