Cenovus Energy Inc. (CVE) is now deemed one of the most undervalued Canadian stocks to buy, with Raymond James raising the price target to C$30 post Q2 earnings. The company reported $2.4 billion in cash from operating activities, $1.5 billion in adjusted funds flow, and $355 million in free funds flow.

Total revenues for the quarter were $12.3 billion, with upstream production at 765,900 BOE/d and downstream crude throughput at 665,800 bbls/d. First oil was achieved at Narrows Lake, with production expected to peak at 20,000-30,000 bbls/d by year-end.

Cenovus Energy Inc. (CVE) operates in oil sands, conventional, offshore, Canadian refining, and US refining segments. The company is focused on developing, producing, refining, transporting, and marketing crude oil, natural gas, and refined petroleum products in various locations.

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Read more at Yahoo Finance: Raymond James Raises Cenovus Energy (CVE) PT to C$30 Amid Q2 Earnings