The Materials sector company, Canadian Natural Res (TSX: CNQ), has received a rating update from a Wall Street analyst on October 9. Analyst Nick Lupick from AltaCorp Captial remains bullish on the stock and has a C$57 price target.
According to TipRanks.com, Lupick is a 4-star analyst with an average return of 4.5% and a 53.2% success rate. Lupick covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, BlackPearl Resources Inc, and Freehold Royalties Ltd.
Currently, the analyst consensus on Canadian Natural Res is a Strong Buy with an average price target of C$57.80, a 53.5% upside from current levels. In a report issued on September 26, TD Securities also reiterated a Buy rating on the stock with a C$56 price target.
Canadian Natural Res’ market cap is currently C$47.76B and has a P/E ratio of 18.1. The company has a Price to Book ratio of 1.42.
Canadian Natural Resources Ltd. is a senior oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: North America; North Sea; Offshore Africa; Oil Sands Mining and Upgrading; Midstream; Abandonments; and Head Office.
The company’s shares closed on Thursday at C$37.65, close to its 52-week low of C$36.88.