5 Cheap Canadian Stocks to Buy

2. Canadian Natural Resources Limited (NYSE:CNQ)

Average Analyst Price Target: $70.83

Upside Potential as of April 2: 27.97%

Number of Hedge Fund Holders: 41

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and gas exploration company. It is based in Calgary, Canada.

Devin McDermott, an analyst at Morgan Stanley, holds an Equal Weight rating on  Canadian Natural Resources Limited (NYSE:CNQ) shares as of March 27.

The EV/Revenue multiple for  Canadian Natural Resources Limited (NYSE:CNQ) is 2.22, and its P/E ratio is 9.44. These figures show that the stock is currently undervalued relative to its intrinsic potential. The average price target on the shares is $70.83, with a high forecast of $95.

Out of the 943 hedge funds tracked by Insider Monkey in the fourth quarter, 41 hedge funds were long  Canadian Natural Resources Limited (NYSE:CNQ). Their total stake value was $1.8 billion.

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