There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Conocophillips (COP) and Canadian Natural (CNQ) with bullish sentiments.
Conocophillips (COP)
RBC Capital analyst Scott Hanold maintained a Buy rating on Conocophillips on April 8 and set a price target of $63.00. The company’s shares closed last Friday at $51.23.
According to TipRanks.com, Hanold is a 1-star analyst with an average return of -0.6% and a 40.8% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.
Currently, the analyst consensus on Conocophillips is a Strong Buy with an average price target of $62.62, representing a 21.9% upside. In a report issued on April 1, Piper Sandler also maintained a Buy rating on the stock with a $69.00 price target.
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Canadian Natural (CNQ)
In a report issued on April 7, Gregory Pardy from RBC Capital maintained a Buy rating on Canadian Natural, with a price target of C$43.00. The company’s shares closed last Friday at $30.85, close to its 52-week high of $32.64.
According to TipRanks.com, Pardy is a 4-star analyst with an average return of 6.8% and a 50.2% success rate. Pardy covers the Utilities sector, focusing on stocks such as Vermilion Energy, Cenovus Energy, and Suncor Energy.
Currently, the analyst consensus on Canadian Natural is a Strong Buy with an average price target of $37.39, representing a 20.9% upside. 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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