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AltaCorp Captial Thinks Canadian Natural Res’ Stock is Going to Recover


The Materials sector company, Canadian Natural Res (TSX: CNQ), has received a rating update from a Wall Street analyst on October 9. Analyst Nick Lupick from AltaCorp Captial remains bullish on the stock and has a C$57 price target.

According to TipRanks.com, Lupick is a 4-star analyst with an average return of 4.5% and a 53.2% success rate. Lupick covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, BlackPearl Resources Inc, and Freehold Royalties Ltd.

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Currently, the analyst consensus on Canadian Natural Res is a Strong Buy with an average price target of C$57.80, a 53.5% upside from current levels. In a report issued on September 26, TD Securities also reiterated a Buy rating on the stock with a C$56 price target.

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Canadian Natural Res’ market cap is currently C$47.76B and has a P/E ratio of 18.1. The company has a Price to Book ratio of 1.42.

Canadian Natural Resources Ltd. is a senior oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: North America; North Sea; Offshore Africa; Oil Sands Mining and Upgrading; Midstream; Abandonments; and Head Office.

The company’s shares closed on Thursday at C$37.65, close to its 52-week low of C$36.88.