There’s a lot to be optimistic about in the Utilities sector as 3 analysts just weighed in on Canadian Natural (CNQ), ARC Resources (AETUF) and Whitecap Resources (SPGYF) with bullish sentiments.
Canadian Natural (CNQ)
In a report released today, Dennis Fong from CIBC maintained a Buy rating on Canadian Natural, with a price target of C$48.00. The company’s shares closed last Wednesday at $31.51, close to its 52-week high of $32.64.
According to TipRanks.com, Fong is ranked 0 out of 5 stars with an average return of -3.0% and a 40.4% success rate. Fong covers the Utilities sector, focusing on stocks such as Gran Tierra Energy, Bonterra Energy, and Parex Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canadian Natural with a $38.02 average price target, implying a 23.9% upside from current levels. In a report issued on March 31, Barclays also maintained a Buy rating on the stock with a C$49.00 price target.
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ARC Resources (AETUF)
CIBC analyst Jamie Kubik maintained a Buy rating on ARC Resources today and set a price target of C$12.00. The company’s shares closed last Wednesday at $6.02.
According to TipRanks.com, Kubik is ranked 0 out of 5 stars with an average return of -2.2% and a 38.4% success rate. Kubik covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Advantage Oil & Gas.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a $9.05 average price target, a 52.6% upside from current levels. In a report issued on April 1, RBC Capital also maintained a Buy rating on the stock with a C$12.00 price target.
Whitecap Resources (SPGYF)
In a report released today, David Popowich from CIBC maintained a Buy rating on Whitecap Resources, with a price target of C$7.50. The company’s shares closed last Wednesday at $4.69, close to its 52-week high of $5.40.
According to TipRanks.com, Popowich is a 1-star analyst with an average return of -1.4% and a 41.0% success rate. Popowich covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Crescent Point Energy, and Birchcliff Energy.
Currently, the analyst consensus on Whitecap Resources is a Strong Buy with an average price target of $6.07, implying a 38.1% upside from current levels. In a report issued on March 30, BMO Capital also reiterated a Buy rating on the stock with a C$8.00 price target.
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