Crescent Point (CPG) Update - Sept 18

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Crescent Point (CPG) Update - Sept 18

Post by dan_s »

Note received this morning from RBC Capital.

"Crescent Point Energy Corp. (TSX: CPG) – Outlook Intact – Framing the 2024 Budget. CPG's 2024 outlook was in line with our expectations,
and we believe leaves the company in good shape to grow modestly (~5% annually) while returning ~60% of FCF to shareholders. Our
outlook calls for $1.2 billion in FCF in 2024 with $227 million allocated to dividends (common) plus $505 million in buybacks to largely
satisfy the company's NCIB commitment (which we expect to be renewed in March)."

RBC Capital analyst Michael Harvey reiterated a Buy rating on Crescent Point Energy (CPG) yesterday and set a price target of C$13.00.
Dan Steffens
Energy Prospectus Group
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