Canadian Natural Resources (CNQ) Price Target Boosted by C$14

Canadian Natural Resources Limited (NYSE:CNQ) is included among the 10 Best Affordable Blue Chip Stocks to Buy Now.

Canadian Natural Resources (CNQ) Price Target Boosted by C$14

Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the UK portion of the North Sea, and offshore Africa.

On April 9, Wells Fargo analyst Sam Margolin bumped the firm’s price target on Canadian Natural Resources Limited (NYSE:CNQ) from C$47 to C$61, while maintaining an ‘Equal Weight’ rating on the shares. The raised target reflects an upside potential of almost 4% from the current share price.

Wells Fargo revised its oil price forecast to $75 per barrel for Brent and $70 per barrel for WTI following the announcement of the US-Iran ceasefire, with talks currently ongoing for a long-term solution. Similar to 2022, the analyst sees this pullback as a mid-cycle correction that creates an entry point for a more orderly revaluation of well-positioned stocks.

Canadian Natural Resources Limited (NYSE:CNQ) completed a strategic acquisition in the first quarter of 2026. As a result, the company raised its output target to 1.62 million-1.67 million boepd for FY 2026, up from 1.59 million-1.65 million boepd previously.

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