There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Canadian Natural (CNQ) and Teck Resources Limited (TECK) with bullish sentiments.
Canadian Natural (CNQ)
In a report released today, Randy Ollenberger from BMO Capital maintained a Buy rating on Canadian Natural. The company’s shares opened today at $26.85.
According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -1.9% and a 43.6% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Baytex Energy Corp, and Encana Corp.
The the analyst consensus on Canadian Natural is currently a Strong Buy rating.
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Teck Resources Limited (TECK)
In a report released today, Greg Barnes from TD Securities upgraded Teck Resources Limited to Buy. The company’s shares opened today at $21.70.
According to TipRanks.com, Barnes is ranked 0 out of 5 stars with an average return of -6.0% and a 38.8% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Centerra Gold Inc.
Teck Resources Limited has an analyst consensus of Strong Buy, with a price target consensus of $30.50, representing a 40.6% upside. In a report released yesterday, Raymond James also maintained a Buy rating on the stock.
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