Scotiabank analyst Jason Bouvier maintains $Canadian Natural Resources (CNQ.US)$ with a hold rating, and adjusts the target price from $41.8 to $40.58.
According to TipRanks data, the analyst has a success rate of 57.9% and a total average return of 17.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Canadian Natural Resources (CNQ.US)$'s main analysts recently are as follows:
The firm's distinctly positive view on Canadian Natural is influenced by its robust leadership, alignment with shareholders, generation of free cash flow, top-tier operational performance, and significant returns to shareholders. Additionally, it is highlighted as the preferred major producer by the analyst.
The acquisition by Canadian Natural of Chevron's remaining interests in the Western Canadian Sedimentary Basin is highlighted, with the company being termed a 'natural buyer' who secured the interest at a favorable cost. The addition of the Duvernay asset is considered a bonus, particularly given the recent advancements in well productivity and its strategic location near the company's Montney assets.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
