CIBC analyst Dennis Fong maintains $Canadian Natural Resources (CNQ.US)$ with a buy rating, and adjusts the target price from $41.81 to $43.54.
According to TipRanks data, the analyst has a success rate of 47.3% and a total average return of 3.7% 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 decisively positive outlook on Canadian Natural is influenced by the company's robust leadership, alignment with shareholders, generation of free cash flow, top-tier operational performance, and substantial returns to shareholders. Additionally, Canadian Natural is regarded as the preferred 'senior producer' by the analyst.
The review of Canadian Natural's acquisition of the additional interests in the WCSB highlights the company's position as a 'natural buyer' able to secure the stake for a favorable cost. Furthermore, the Duvernay asset is seen as a valuable complement due to its recent uptick in well productivity and its advantageous 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.
