Canadian Natural Resources Limited (TSE:CNQ) Given Average Recommendation of "Hold" by Brokerages

Analysts maintain "Hold" rating for Canadian Natural Resources Limited

Canadian Natural Resources Limited (TSE: CNQ) has received an average recommendation of "Hold" from brokerages, indicating that analysts are generally neutral on the company's prospects. The stock has a consensus rating of 2.71, based on 14 analyst recommendations, with 7 analysts rating it a "Buy," 6 rating it a "Hold," and 1 rating it a "Sell."

Key Insights from Brokerage Recommendations

• The highest price target for CNQ is C$42.00, while the lowest is C$28.00, with a median target of C$34.00.
• Analysts have a positive outlook on CNQ's earnings per share (EPS) growth, with an average EPS growth forecast of 25% for the next 12 months.
• CNQ's dividend yield of 4.2% is considered attractive compared to the industry average of 3.5%.

Factors Influencing Brokerage Recommendations

Several factors have influenced the "Hold" recommendation for CNQ:

• Strong financial performance: CNQ has consistently reported strong financial results, with increasing revenue and earnings in recent quarters.
• Favorable commodity prices: The company's operations are heavily tied to oil and gas prices, which have remained elevated in recent months.
• Focus on cost control: CNQ has implemented cost-cutting measures to enhance profitability and improve margins.
• Concerns about geopolitical uncertainty: The ongoing Russia-Ukraine conflict and global economic headwinds create some uncertainty for the company's operations.

Conclusion

Overall, the "Hold" recommendation for Canadian Natural Resources Limited (TSE:CNQ) suggests that analysts view the company as a stable investment with potential for moderate growth. While the company's financial performance remains strong, geopolitical uncertainty and market volatility may impact its prospects. Investors should carefully consider these factors before making any investment decisions.