Scotiabank analyst Kevin Fisk raised the firm’s price target on Canadian Natural (CNQ) to C$54 from C$50 and keeps an Outperform rating on the shares. The firm is updating its price targets on E&P stocks in its coverage, noting it expects weak global oil prices to weigh on Canadian oil benchmarks in 2025 and 2026, the analyst tells investors.
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Read More on CNQ:
- Canadian Natural price target raised to C$46 from C$42 at Wells Fargo
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- Canadian Natural put volume heavy and directionally bearish
- Buy Rating for Canadian Natural: Strong Financial Performance and Attractive Valuation Amidst Macroeconomic Challenges