CNQ
TD says the tape still has room
Canadian Natural Resources got a fresh vote of confidence from TD, which lifted its price target from C$64 to C$72 and left the stock on Buy. That’s not exactly a moon-shot call, but it does suggest the analyst crowd still sees more juice in CNQ than the current quote implies.
The Street is leaning bullish
TD isn’t alone here. The article says other brokers have also been nudging their targets higher, including RBC up to C$80, which is basically Wall Street’s way of saying, “We’re not done making the case.” The consensus view still sits at Moderate Buy, with the analyst camp split right down the middle: six Buy ratings and six Hold ratings.
Why investors should care
CNQ is a heavyweight in Canadian energy, so analyst mood swings matter more than your average “we like this stock” note. A higher target can help support sentiment, especially for a company trading at a fairly modest valuation relative to the broader market.
- Shares were around C$63.52 in the piece
- Market cap: about C$132.56 billion
- P/E: 12.31
The fine print
There’s also a little insider-selling chatter in the background, with the article noting 74,306 shares sold over the last three months. That doesn’t automatically mean trouble — insiders sell for all kinds of boring reasons — but it’s the kind of detail investors tend to notice when they’re deciding whether a rally has legs.
Big picture: TD’s raised target is another brick in the bullish wall for CNQ, but the stock still has to prove the oil patch optimism is more than just broker-office enthusiasm.