CENOVUS ENERGY INC. $34 (www.cenovus.com) has gained 33% since it became a separate company in December 2009. As a result, its long-term debt of $4.6 billion is now a more moderate 18% of its $25.5-billion market cap. That’s why we’ve upgraded Cenovus’s TSINetwork Rating from “Extra Risk” to “Average.” Buy.