What exactly changed in the Feb 20, 2026 CVE analyst rating updates?

On Feb 20, 2026 TD and BMO maintained ratings on Cenovus (TD Buy, BMO Outperform) and raised price targets to **C$35**. The moves kept conviction steady while increasing upside estimates.

How should I interpret a maintained CVE analyst rating with a higher price target?

A maintained CVE analyst rating with a higher target signals analysts see better valuation or cash flow but unchanged conviction. It often reflects model adjustments, not a downgrade in risk.

Do these CVE analyst rating moves change the stock outlook long term?

The moves point to improved short-term valuation expectations but do not guarantee long-term changes. Use the CVE analyst rating alongside fundamentals, commodity forecasts, and corporate actions.

Where can I read the original analyst notes on the CVE analyst rating updates?

You can read the two TheFly summaries: the TD note [TD report at TheFly](https://thefly.com/permalinks/entry.php/id4297656/9561286394/CVE-Cenovus-Energy-price-target-raised-by-C-at-TD-Securities) and the BMO note [BMO report at TheFly](https://thefly.com/permalinks/entry.php/id4297638/9264286394/CVE

Analyst Ratings

CVE Cenovus Energy Inc. Feb 20 2026 TD Maintained Buy, BMO Maintained Outperform

ByDanny Kontos February 21, 2026February 21, 2026

TD Securities and BMO Capital both maintained coverage of Cenovus Energy Inc. (CVE) on Feb 20, 2026, while raising price targets to C$35. The CVE analyst rating from each firm stayed positive, with TD at Buy and BMO at Outperform. These moves came with modest intraday share lifts of 2.05% and 1.85% respectively, signaling analyst confidence. We use Meyka AI real-time data to frame the implications for investors and the market.