Raymond James raises target for Canadian Natural Resources stock

Published on 10/06/2026 at 04:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Raymond James raised its target to CAD 70.00 on September 16, 2026. Canadian Natural Resources stock had a EUR 43.28 prior close on October 2, 2026.

CNQ, CA1363851017, Illustration mit AI erstellt.

Raymond James raised its Canadian Natural Resources price target from CAD 66.00 to CAD 70.00 on September 16, 2026, while keeping an outperform rating, according to MarketBeat. The move places the target CAD 4.00 above the previous level and gives the latest analyst action a concrete valuation reference.

Second-quarter earnings set the base

Canadian Natural Resources reported CAD 14.74 billion in revenue for the second quarter of 2026, up 70 percent from the second quarter of 2025, according to Simply Wall St. Net income reached CAD 4.50 billion, up 83 percent year over year, while reported earnings per share rose to CAD 2.19 from CAD 1.18.

The same second-quarter update puts production at 1,677,000 barrels of oil equivalent per day, an 18 percent increase from the comparable period. Adjusted net earnings were CAD 4.57 billion, or CAD 2.19 per share, and exceeded analyst expectations by 9 percent, according to Simply Wall St.

Higher output meets execution risks

The company also lifted its 2026 production guidance. Natural gas guidance moved to 2,595 to 2,635 million cubic feet per day from 2,560 to 2,615 million, while total production guidance rose to 1,637,000 to 1,682,000 barrels of oil equivalent per day from 1,615,000 to 1,665,000.

That operating improvement is paired with a more cautious expansion stance. Simply Wall St reported that Canadian Natural Resources paused longer-term oil sands expansion projects pending agreements involving policy and infrastructure. For investors, the comparison is clear: near-term production is accelerating, while longer-term growth depends more heavily on external approvals and market access.

Next results arrive November 5

Simply Wall St lists November 5, 2026 as the date for Canadian Natural Resources' third-quarter results. The company is listed on the Toronto Stock Exchange under CNQ and has a reported market capitalization of CAD 138.0 billion as of October 1, 2026.

Lang and Schwarz prior close

The prior close at Lang & Schwarz was EUR 43.28 on October 2, 2026. The quoted reference is separate from Canadian Natural Resources' primary-market quotation in Canadian dollars.