.png)
Summary Leading Canadian oil and gas producer Crescent Point stock has rewarded investors tremendously from its March 2020 lows. It also posted a YTD gain of 32%, outperforming the broad market. However, investors need to ask whether further outperformance is still possible as we move closer to a global recession. Our analysis indicates that Wall Street remains overly optimistic about CPG’s estimates. Therefore, we postulate further estimate cuts could be in store as macro headwinds worsen. We discuss why we believe investors need to be very cautious about adding CPG stock at the current levels, as early signs of a trend reversal have been lurking underneath. We explain the critical levels for investors to watch and why investors should watch the action from the sidelines for now. I do much more than just articles at Ultimate Growth Investing: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » bymuratdeniz Thesis Investors in leading Canadian oil and gas producer Crescent Point Energy Corp. (NYSE: CPG ) have benefited tremendously from its March 2020 bottom. CPG also posted a remarkable YTD return of 32%, despite having fallen nearly 37% from its June highs. We assess […]
CamTrader offers a preview only. View original article. seekingalpha.com
