Canadian Natural’s Strategic Consistency and Growth Potential Justify Buy Rating with Revised Price Target

Tip Ranks
2025.11.10 16:25
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TD Cowen analyst Menno Hulshof has maintained a Buy rating on Canadian Natural (CNQ) stock, citing its strategic consistency and growth potential. The price target has been revised to C$54.00, supported by strong resource inventory and capital allocation. The integration of AOSP/Horizon and expansion of in situ projects are expected to enhance net present value. RBC Capital also reiterated a Buy rating with a $62.00 price target, highlighting the company's advantageous positioning and growth opportunities in its thermal in situ portfolio.

TD Cowen analyst Menno Hulshof has maintained their bullish stance on CNQ stock, giving a Buy rating yesterday.

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Menno Hulshof has given his Buy rating due to a combination of factors that highlight Canadian Natural’s strategic consistency and growth potential. The company has demonstrated a strong commitment to enhancing its bottom line and return on capital, supported by a deep resource inventory and flexible capital allocation. The integration of AOSP/Horizon and the expansion of in situ projects are expected to provide significant upside, contributing to a modest increase in the net present value and a slight revision of the price target to C$54.00.
The company’s advantageous positioning in resource life index, decline rates, and organic growth opportunities are key strengths supporting the Buy rating. Additionally, Canadian Natural’s thermal in situ portfolio offers capital-efficient opportunities that can drive further growth. While there are no new developments in natural gas and oil market diversification, the company’s strategic focus remains robust, and the potential for future guidance aligns with previous estimates, reinforcing confidence in its long-term growth trajectory.

In another report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a $62.00 price target.

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