BMO Capital Maintains a Buy on Canadian Natural Resources (CNQ) With a C$56 PT

Canadian Natural Resources Limited (NYSE:CNQ) is one of the best cheap stocks under $50 to buy now. On July 14, BMO Capital analyst Randy Ollenberger maintained a Buy rating on Canadian Natural Resources Limited (NYSE:CNQ) and set a price target of C$56.00.

CNQ’s Dividend History: What Investors Should Know Before Buying

A vast oil rig pumping crude oil during a sunset, emphasizing the company’s focus on oil & gas exploration and production.

The analyst based the rating on the company’s financial resilience and operational excellence, stating that its notable efficiency and scale reflect its potential to maintain cost-effectiveness and industry-leading reliability. This holds especially true at the Albian Sands.

Ollenberger reasoned that Canadian Natural Resources Limited’s (NYSE:CNQ) strategic asset management and considerable reserves further support this operational expertise, lending it a competitive market position.

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and natural gas production company that explores, develops, markets, and produces natural gas and crude oil. Its operations are divided into the following segments: Oil Sands Mining & Upgrading, Midstream & Refining, and Exploration & Production.

While we acknowledge the potential of CNQ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CNQ and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.