Cenovus Energy Inc. (CVE) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$29.00
Price Target
$27.67
Target Range
$22.00 — $32.00
Analyst Rating
Hold
Forward P/E7.6x
Trailing P/E18.3x
Forward PEG—
Implied Growth+117.5%
Median Target$29.00
Analyst Spread36.1%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$22
-24.1%
Consensus
$28
-4.6%
Bull Case
$32
+10.4%
CVE Price Target Analysis
Updated May 7, 2026As of May 7, 2026, Cenovus Energy Inc. (CVE) has a Wall Street consensus price target of $27.67, based on estimates from 27 covering analysts. With the stock currently trading at $29.00, this represents a potential downside of -4.6%. The company has a market capitalization of $54.61B.
Analyst price targets range from a low of $22.00 to a high of $32.00, representing a 36% spread in expectations. The median target of $29.00 aligns closely with the consensus average.
The current analyst consensus rating is Hold, with 11 analysts rating the stock as a Buy or Strong Buy,15 rating it Hold, and 1 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, CVE trades at a trailing P/E of 18.3x and forward P/E of 7.6x. Analysts expect EPS to grow +117.5% over the next year.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Energy stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside-2.2%
Avg Forward P/E27.9x
Peers with Coverage10 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 SUSuncor Energy Inc. | $76.6B | $64.32 | $62.00 | -3.6% | Buy | 7.8x | 31 |
 CNQCanadian Natural Resources Limited | $95.2B | $45.63 | $35.00 | -23.3% | Buy | 8.2x | 37 |
 IMOImperial Oil Limited | $63.6B | $127.84 | $44.99 | -64.8% | Hold | 15.2x | 20 |
 MEGMontrose Environmental Group, Inc. | $798M | $22.07 | $49.33 | +123.5% | Buy | 172.3x | 12 |
 MPCMarathon Petroleum Corporation | $72.4B | $245.78 | $214.78 | -12.6% | Buy | 11.1x | 33 |
 PSXPhillips 66 | $68.8B | $171.72 | $163.38 | -4.9% | Buy | 11.7x | 35 |
 VLOValero Energy Corporation | $70.8B | $236.69 | $214.67 | -9.3% | Buy | 10.0x | 37 |
 PBFPBF Energy Inc. | $4.9B | $41.59 | $38.00 | -8.6% | Hold | 7.5x | 26 |
 ENBEnbridge Inc. | $118.3B | $54.21 | $46.86 | -13.6% | Buy | 18.0x | 25 |
 TRPTC Energy Corporation | $68.2B | $65.49 | $62.00 | -5.3% | Hold | 17.5x | 19 |
Upside Potential Comparison
MEGSUPSXTRPPBFVLOMPCENBFull CVE Stock Analysis
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Start ComparisonCVE — Frequently Asked Questions
Quick answers to the most common questions about buying CVE stock.
What is the CVE stock price target for 2026?
Wall Street's consensus price target for CVE is $27.67, -4.6% from its current price of $28.997. The below-market target from 27 analysts suggests limited near-term appreciation.
Is CVE a buy, sell, or hold?
CVE has a consensus rating of "Hold" based on 27 Wall Street analysts. The rating breakdown is mixed, with 15 Hold ratings making up the largest segment. The consensus 12-month price target of $27.67 implies -4.6% downside from current levels.
Is CVE stock overvalued or undervalued?
With a forward P/E of 7.606x, CVE trades at a relatively low valuation. The consensus target of $27.67 implies -4.6% move, suggesting the market may be pricing in risks.
How high can CVE stock go?
The most bullish Wall Street analyst has a price target of $32 for CVE, while the most conservative target is $22. The consensus of $27.67 represents the median expectation. These targets typically reflect 12-month expectations.
How many analysts cover CVE stock?
CVE is heavily covered by Wall Street, with 27 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 11 have Buy ratings, 15 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the CVE stock forecast?
The 12-month CVE stock forecast based on 27 Wall Street analysts shows a consensus price target of $27.67, with estimates ranging from $22 (bear case) to $32 (bull case). The median consensus rating is "Hold".
What is CVE's forward P/E ratio?
CVE trades at a forward P/E ratio of 7.6x based on next-twelve-months earnings estimates compared to a trailing P/E of 18.3x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy CVE stock?
Analysts are cautious on CVE, with 1 Sell ratings and a price target of $27.67 (-4.6% from current price). The "Hold" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do CVE price targets vary so much?
CVE analyst price targets range from $22 to $32, a 36% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $27.67 consensus represents the middle ground.