Raymond James cuts Canadian Natural Resources stock target to CAD 69.00

Published on 10/16/2026 at 09:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Raymond James cut its target to CAD 69.00 on October 15, 2026. Canadian Natural Resources stock costs EUR 46.21 on October 16, 2026.

Analyst target and quarterly results

Raymond James cut its CNQ target to CAD 69.00 on October 15, 2026.
Second-quarter revenue reached CAD 14.74 billion and earnings per share were CAD 2.19.
Canadian Natural Resources stock traded at EUR 46.21 at 9:16 a.m. CEST at Lang & Schwarz on October 16, 2026.

CNQ, CA1363851017, Illustration mit AI erstellt.

Canadian Natural Resources (CA1363851017) stock was quoted at EUR 46.21 at Lang & Schwarz on October 16, 2026, at 9:16 a.m. CEST. The latest analyst action came from Raymond James, which cut its target to CAD 69.00 from CAD 70.00 and lowered its rating to Market Perform from Outperform on October 15, 2026, according to The Globe and Mail.

Three dated moves shape CNQ

Canadian Natural Resources reported second-quarter revenue of CAD 14.74 billion and earnings per share of CAD 2.19 on August 6, 2026, according to The Cerbat Gem. On October 13, 2026, Royal Bank of Canada raised its target from CAD 79.00 to CAD 86.00, the same report said. On October 15, 2026, Raymond James cut its target from CAD 70.00 to CAD 69.00, marking the latest of the three dated developments.

What does the target cut mean?

The change is primarily a valuation call rather than a reversal of the company's operating profile. Raymond James cited updated commodity assumptions and wider Western Canadian Select differentials, while still expecting strong volumes and cash flow generation in the third quarter, according to The Globe and Mail.

The competing RBC view shows why the stock's valuation is central to the debate. RBC's CAD 86.00 target is CAD 17.00 above the CAD 69.00 Raymond James target, a spread of 24.64 percent relative to the lower target. The latest quarterly figures provide the operating counterpoint: revenue of CAD 14.74 billion accompanied earnings per share of CAD 2.19 in the second quarter.

Price sets the near-term frame

For investors, the key tension is between strong production and cash generation on one side and commodity-price sensitivity on the other. Canadian Natural Resources operates oil and natural gas assets in Western Canada, the U.K. portion of the North Sea and Offshore Africa, according to the company's investor-relations page.

Canadian Natural Resources stock was trading at EUR 46.21 at Lang & Schwarz on October 16, 2026, at 9:16 a.m. CEST, before the Xetra open. The further course of trading is shown by the continuously updated real-time quote of Canadian Natural Resources stock.