The Globe and Mail reports in its Thursday, Oct. 16, edition that RBC Capital Markets analyst Greg Pardy has upgraded Ovintiv to "outperform" from "sector perform," believing the depth of its position in the Montney "affords energy investors an attractive/inexpensive avenue to gain sizable exposure to an emerging oil/condensate resource play north of the border." The Globe's David Leeder writes that Mr. Pardy continues to target the shares at $55 (all figures U.S.). Analysts on average target the shares at $51.94. Mr. Pardy says in a note: "Our recent update with Ovintiv's EVP and CFO, Corey Code, VP IR and Planning, Jason Verhaest, and senior IR analyst, Patti Posadowski, explored the company's strategic direction, portfolio and initiatives that could improve its relative valuation over time. What seemed clear from our discussion is just how core the Permian and Montney are to Ovintiv, with less focus placed on the Anadarko. ... Ovintiv has delivered impressive operational/financial performance over a series of quarters -- and fancy footwork portfolio repositioning-wise -- yet its relative valuation has yet to reflect that. ... We believe the company should trade at a modest discount vis-a-vis our peer group."