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Canadian Natural Resources (CNQ) Stock Forecast & Price Target

C$47.59
-0.22 (-0.46%)
(As of 07/24/2024 ET)

Canadian Natural Resources - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 14 Wall Street analysts who have issued ratings for Canadian Natural Resources in the last 12 months, the stock has a consensus rating of "Hold." Out of the 14 analysts, 8 have given a hold rating, and 6 have given a buy rating for CNQ.

Consensus Price Target

C$101.44
113.15% Upside
High ForecastC$126.00
Average ForecastC$101.44
Low ForecastC$49.00

According to the 14 analysts' twelve-month price targets for Canadian Natural Resources, the average price target is C$101.44. The highest price target for CNQ is C$126.00, while the lowest price target for CNQ is C$49.00. The average price target represents a forecasted upside of 113.15% from the current price of C$47.59.

TypeCurrent Forecast
7/26/23 to 7/25/24
1 Month Ago
6/26/23 to 6/25/24
3 Months Ago
4/27/23 to 4/26/24
1 Year Ago
7/26/22 to 7/26/23
Consensus Rating
Hold
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
6 Buy rating(s)
7 Buy rating(s)
7 Buy rating(s)
7 Buy rating(s)
Hold
8 Hold rating(s)
7 Hold rating(s)
6 Hold rating(s)
3 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price TargetC$101.44C$104.88C$111.00C$89.59
Forecasted Upside113.15% Upside11.68% Upside10.69% Upside16.76% Upside
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CNQ Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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CNQ Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Canadian Natural Resources Stock vs. The Competition

TypeCanadian Natural ResourcesEnergy Companies
Consensus Rating Score
2.43
2.72
Consensus RatingHoldModerate Buy
News Sentiment RatingPositive News
Neutral News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/18/2024Wolfe Research
3 of 5 stars
D. Leggate
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UpgradeHold
7/15/2024Jefferies Financial Group
2 of 5 stars
 Lower TargetHoldC$110.00 ➝ C$55.00+9.78%
6/12/2024Raymond James
4 of 5 stars
M. Barth
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Lower TargetMarket PerformC$97.00 ➝ C$49.00+0.80%
6/11/2024Scotiabank
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 Lower TargetSector PerformC$114.00 ➝ C$57.00+16.54%
5/3/2024TD Securities
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 Boost TargetBuyC$112.00 ➝ C$117.00+14.75%
4/23/2024Desjardins
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 DowngradeBuy ➝ HoldC$104.00 ➝ C$110.00+5.03%
4/23/2024Stifel Nicolaus
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 Boost TargetBuyC$110.00 ➝ C$126.00+20.31%
4/22/2024CIBC
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 Boost TargetOutperformC$105.00 ➝ C$115.00+8.76%
4/19/2024National Bankshares
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 Boost TargetSector PerformC$94.00 ➝ C$120.00+13.36%
4/9/2024Royal Bank of Canada
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 Boost TargetC$100.00 ➝ C$120.00+9.14%
4/9/2024UBS Group
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 Boost TargetC$113.00 ➝ C$124.00+12.78%
4/8/2024Evercore
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 Boost TargetC$105.00 ➝ C$115.00+5.42%
3/28/2024BMO Capital Markets
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 Boost TargetC$110.00 ➝ C$115.00+11.19%
3/20/2024ATB Capital
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 Boost TargetOutperformC$100.00 ➝ C$107.00+7.85%
3/4/2024JPMorgan Chase & Co.
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 Boost TargetC$102.00 ➝ C$106.00+10.07%
12/14/2023Wells Fargo & Company
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 Lower TargetC$95.00 ➝ C$86.00-0.70%
10/12/2023National Bank Financial
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 Boost TargetC$90.00 ➝ C$101.00+14.03%
4/6/2023CSFB
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 Lower TargetC$93.00 ➝ C$90.00+13.92%
3/27/2023Morgan Stanley
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 Lower TargetC$90.00 ➝ C$87.00+23.23%
1/12/2023Stifel Firstegy
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M. Dunn
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Reiterated RatingBuy
8/11/2022Credit Suisse Group
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 Reiterated RatingNeutralC$93.00+29.35%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 01:42 AM ET.

CNQ Forecast - Frequently Asked Questions

What is Canadian Natural Resources' forecast for 2024?

According to the research reports of 14 Wall Street equities research analysts, the average twelve-month stock price forecast for Canadian Natural Resources is C$101.44, with a high forecast of C$126.00 and a low forecast of C$49.00.

Should I buy or sell Canadian Natural Resources stock right now?

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canadian Natural Resources in the last year. There are currently 8 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" CNQ shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CNQ, but not buy additional shares or sell existing shares.

Does Canadian Natural Resources's stock price have much upside?

According to analysts, Canadian Natural Resources's stock has a predicted upside of 12.17% based on their 12-month stock forecasts.

Has Canadian Natural Resources been upgraded by Wall Street analysts recently?

Over the previous 90 days, Canadian Natural Resources's stock had 2 upgrades by analysts.

What analysts cover Canadian Natural Resources?

Canadian Natural Resources has been rated by research analysts at Jefferies Financial Group, Raymond James, Scotiabank, TD Securities, and Wolfe Research in the past 90 days.

Do Wall Street analysts like Canadian Natural Resources more than its competitors?

Analysts like Canadian Natural Resources less than other "energy" companies. The consensus rating for Canadian Natural Resources is Hold while the average consensus rating for "energy" companies is Moderate Buy. Learn more on how CNQ compares to other companies.


This page (TSE:CNQ) was last updated on 7/25/2024 by MarketBeat.com Staff

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