Canadian Natural Resources Maintained at Outperform With a $63 Price Target at RBC Capital Markets

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Canadian Natural Resources Maintained at Outperform With a $63 Price Target at RBC Capital Markets

, MT Newswires - 11:11 AM ET 3/27/2025 default

11:11 AM EDT, 03/27/2025 (MT Newswires) -- RBC Capital Markets on Thursday reiterated its outperform rating on the shares of Canadian Natural Resources ( CNQ ) and its $63.00 price target following a meeting with management of the No.1 Canadian oil producer.

RBC said its recent update with company executives reinforced its confidence in the company's outlook and how it runs its business.

What stood out most was Canadian Natural's business as usual approach on several fronts, including succession, RBC said.

According to RBC, the company reiterated that the bedrock of its financial resiliency to any number of external shocks remains its low-cost structure and nimbleness to reallocate/adjust capital as conditions warrant.

"Our bullish stance towards CNQ reflects its strong leadership team, shareholder alignment, free cash flow generation throughout cycles, best-in-class operating performance and abundant shareholder returns," RBC said.

RBC said CNQ also remained as its favorite senior producer in Canada.

Price: 44.73, Change: +0.04, Percent Change: +0.09

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