Desjardins raises target for Canadian Natural Resources stock to CAD 74.00

Published on 10/21/2026 at 11:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Desjardins lifted its target to CAD 74.00 on October 20, 2026. Canadian Natural Resources stock costs EUR 48.89 on October 21, 2026.

Targets and operating scale

Desjardins lifted its target from CAD 73.00 to CAD 74.00 on October 20, 2026.
Second-quarter net earnings reached USD 3.25 billion, up 83.1 percent year over year.
Canadian Natural Resources stock trades at EUR 48.89 at 11:22 a.m. CEST at Lang & Schwarz on October 21, 2026.

CNQ, CA1363851017, Illustration mit AI erstellt.

Canadian Natural Resources (ISIN CA1363851017) has a new CAD 74.00 price target after Desjardins raised its objective from CAD 73.00 on October 20, 2026, according to MarketBeat. Canadian Natural Resources stock was trading at EUR 48.89 at Lang & Schwarz on October 21, 2026 at 11:22 a.m. CEST.

Analyst targets remain divided

The latest target revision sits near the reported Street average of CAD 74.72. The Globe and Mail reported that National Bank Financial raised its target for Canadian Natural Resources to CAD 86.00 from CAD 84.00, while Desjardins moved to CAD 74.00 from CAD 73.00 in reports released on October 20, 2026.

That CAD 12.00 gap between the two targets shows how differently analysts view the oil producer after its strong first half. The company remains exposed to commodity prices, while its production scale and shareholder returns provide a second part of the investment case.

Three milestones shaped the stock

On March 5, 2026, Canadian Natural Resources announced a Peace River acquisition worth about CAD 761 million; on May 7, 2026, first-quarter net earnings were USD 982.92 million; and on October 20, 2026, Desjardins lifted its target to CAD 74.00 from CAD 73.00, as documented by Ticker Scout and MarketBeat.

What does the operating base show?

Canadian Natural Resources reported second-quarter 2026 net earnings of USD 3.25 billion, up 83.1 percent from USD 1.78 billion a year earlier. Product sales reached USD 12.44 billion, up 77.9 percent, while production averaged 1,676,754 barrels of oil equivalent per day, an 18.1 percent increase, according to Ticker Scout.

The same second-quarter filing summary says adjusted funds flow rose to USD 4.96 billion from USD 2.36 billion. Full-year production guidance was raised to 1,637,000 to 1,682,000 barrels of oil equivalent per day from 1,615,000 to 1,665,000, keeping execution and commodity prices central to the next valuation debate.

Next results date is November 5

Canadian Natural Resources is scheduled to report third-quarter 2026 results before the market opens on November 5, 2026, with an 11:00 a.m. ET conference call, according to MarketBeat. The report will test whether the second-quarter production and cash-flow gains carried into the next period.

CNQ keeps a cash-flow narrative

At Lang & Schwarz, Canadian Natural Resources stock was trading at EUR 48.89 on October 21, 2026 at 11:22 a.m. CEST. On the NYSE, the stock was last quoted at USD 54.18 on October 20, 2026 at 4:00 p.m. ET, while the finance profile lists Canadian Natural Resources as an energy company focused on oil and gas production.

The further course of trading is shown by the continuously updated real-time quote of CNQ stock.