Raymond James cuts target for Canadian Natural Resources stock to CAD 69.00

Published on 10/19/2026 at 09:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached CAD 14.74 billion, up 70.00 percent year over year. Canadian Natural Resources stock costs EUR 47.85 on October 19, 2026.

Analyst caution meets output growth

Raymond James cut its target from CAD 70.00 to CAD 69.00 on October 14, 2026.
Second-quarter production reached 1,676,754 barrels of oil equivalent per day, up 18.10 percent year over year.
CNQ stock trades at EUR 47.85 at 9:14 a.m. CEST at Lang & Schwarz on October 19, 2026.

CNQ, CA1363851017, Illustration mit AI erstellt.

Canadian Natural Resources Limited (ISIN CA1363851017) was trading at EUR 47.85 at Lang & Schwarz on October 19, 2026, at 9:14 a.m. CEST. The latest analyst move came from Raymond James, which cut its target from CAD 70.00 to CAD 69.00 and changed its rating from Moderate Buy to Hold on October 14, 2026, according to MarketBeat.

Why did the target fall?

The downgrade puts a measured counterweight against CNQ's strong operating figures. Raymond James lowered the target by CAD 1.00, while the latest consensus compiled by MarketBeat stood at CAD 68.75 from 12 analyst ratings on October 18, 2026, with six Buy and six Hold recommendations.

Royal Bank of Canada moved in the opposite direction on October 13, 2026, raising its target from CAD 79.00 to CAD 86.00, as reported by MarketBeat. The split view leaves the next results release as the clearest test of whether higher output can support valuation.

Three dates frame the stock

On August 6, 2026, Canadian Natural Resources reported second-quarter revenue of CAD 14.74 billion and earnings per share of CAD 2.19, according to MarketBeat. On October 13, RBC raised its target to CAD 86.00. On October 14, Raymond James cut its target to CAD 69.00.

What does output mean for margins?

Second-quarter production averaged 1,676,754 barrels of oil equivalent per day, up 18.10 percent from a year earlier, while adjusted funds flow reached USD 4.96 billion, up 110.50 percent, according to Ticker Scout. That combination gives the company more operating leverage, but the divergent targets show that analysts are weighing commodity exposure and valuation differently.

Next results date

Canadian Natural Resources is scheduled to report third-quarter 2026 results on November 5, 2026, according to Simply Wall St.

CNQ stock and the next test

The October analyst split makes the November results date important for the stock's valuation narrative. Investors will have fresh production, earnings and cash-flow figures to compare with the contrasting CAD 69.00 and CAD 86.00 targets.

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