Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 2, 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 $22.31, this represents a potential upside of +24.0%. The company has a market capitalization of $42.09B.
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 14.2x and forward P/E of 15.0x. Analysts expect EPS to grow -15.3% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $26.75, with bear and bull scenarios of $-7.30 and $114.26 respectively. Model confidence stands at 49/100, suggesting limited visibility into future performance.
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Start ComparisonThe consensus Wall Street price target for CVE is $27.67, representing 24.0% upside from the current price of $22.31. With 27 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
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 24.0% upside from current levels.
With a forward P/E of 15.0307x, CVE trades at a relatively low valuation. The consensus target of $27.67 implies 24.0% appreciation, suggesting meaningful undervaluation.
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. Our quantitative valuation model projects a bull case target of $114 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
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.
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". Our proprietary valuation model produces a base case fair value of $27, with bear/bull scenarios of $-7/$114.
Our quantitative valuation model calculates CVE's fair value at $27 (base case), with a bear case of $-7 and bull case of $114. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 49/100.
CVE trades at a forward P/E ratio of 15.0x based on next-twelve-months earnings estimates compared to a trailing P/E of 14.2x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are very optimistic on CVE, with a "Hold" consensus rating and $27.67 price target (24.0% upside). 11 of 27 analysts rate it Buy or Strong Buy. 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.
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. Our model's $-7-$114 range provides an independent fundamental perspective.