There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Parsley Energy (PE) and Canadian Natural (CNQ) with bullish sentiments.
Parsley Energy (PE)
Credit Suisse analyst William Janela maintained a Buy rating on Parsley Energy yesterday and set a price target of $12.00. The company’s shares closed last Monday at $4.87, close to its 52-week low of $3.92.
Janela has an average return of 11.2% when recommending Parsley Energy.
According to TipRanks.com, Janela is ranked #1481 out of 6147 analysts.
Parsley Energy has an analyst consensus of Moderate Buy, with a price target consensus of $18.53, implying a 342.2% upside from current levels. In a report issued on March 9, Siebert Williams Shank & Co also upgraded the stock to Buy with a price target.
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Canadian Natural (CNQ)
In a report released yesterday, Manav Gupta from Credit Suisse maintained a Buy rating on Canadian Natural, with a price target of C$34.00. The company’s shares closed last Monday at $7.76, close to its 52-week low of $6.71.
According to TipRanks.com, Gupta ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -45.8% and a 12.0% success rate. Gupta covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum, Cenovus Energy, and Valero Energy.
Currently, the analyst consensus on Canadian Natural is a Moderate Buy with an average price target of $22.71, implying a 189.3% upside from current levels. In a report issued on March 6, RBC Capital also maintained a Buy rating on the stock with a C$45.00 price target.
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