The Globe and Mail reports in its Wednesday, May 20, edition that RBC Capital analyst Greg Pardy has reaffirmed his "outperform" recommendation for Cenovus Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pardy gave his share target a $2 boost to $47. Analysts on average target the shares at $43.22. Mr. Pardy says in a note: "Our constructive stance toward Cenovus reflects its capable leadership team, shareholder alignment, free cash flow generation, inventory depth and much improved execution. ... In response to a question surrounding the potential sale of its conventional oil and natural gas business (where it is targeting liquids-rich opportunities), the company acknowledged that every asset has a price, but that it is comfortable with its current portfolio and sees no need for strategic changes. ... Cenovus emphasized that it has no near-term plans to increase its capital investment of $5-billion to $5.3-billion (including $350-million of capitalized turnarounds) this year. Looking into 2027 on a preliminary basis, $5-billion to $5.5-billion (including $3.5-billion to $4-billion of sustaining capital) of spending is a good starting point but could change depending on a host of factors."