The Globe and Mail reports in its Friday edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for Cenovus Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch gave his share target a 50-cent boost to $28. Analysts on average target the shares at $29.94. Mr. MacCulloch says he tweaked his share target ahead in response to "constructive" fourth quarter results. Mr. MacCulloch says in a note, "The update was favourably received by the market after several months of disappointing performance vs peers and we expect the positive momentum to continue through the March 5 investor day presentation in Toronto, where Cenovus Energy is expected to provide additional colour on planned growth and optimization projects over the next five years." The Globe reported on Sept. 7 that Scotia Capital rated Cenovus Energy "sector outperform." It was then worth $27.86. The Globe reported on Dec. 7 that Mr. MacCulloch had reaffirmed his "buy" recommendation for Cenovus Energy. The shares could then be had for $21.81. The Globe reported on Jan. 17 that Scotia Capital analysts rated Cenovus Energy "sector outperform." The shares could then be had for $20.64.