Analyst Roger Read of Wells Fargo maintained a Hold rating on Canadian Natural, retaining the price target of C$46.00.
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Roger Read’s rating is based on Canadian Natural’s focus on operational efficiency and cost management, as highlighted during the Albian Sands Investor Tour. The company is committed to lowering capital and operational expenditures while enhancing asset life and environmental performance. This approach is supported by a culture of continuous improvement and employee ownership, which has led to innovative practices that save costs and improve operations.
Despite these positive developments, the earnings per share adjustments for Q2’25 and FY25 indicate a slight decrease from previous estimates. Additionally, while there are significant growth opportunities in the long term, they are contingent on regulatory and carbon policy clarity. These factors contribute to the Hold rating, suggesting that while the company is making strides in efficiency and innovation, uncertainties remain that could impact future performance.
Read covers the Energy sector, focusing on stocks such as EOG Resources, Coterra Energy, and Devon Energy. According to TipRanks, Read has an average return of 0.9% and a 54.40% success rate on recommended stocks.