Canadian Natural Resources Downgraded to Market Perform at Raymond James

MT Newswires Live10-15

Canadian Natural Resources (CNQ.TO) was downgraded to market perform from outperform at Raymond James.

Analyst Michael Barth lowered his price target on shares of the Calgary-based oil and natural gas producer to CA$69 from CA$70.

"We acknowledge that there is plenty of positive regulatory/political momentum that could lead to improved royalty rates, better capital efficiencies, and lots of incremental egress (all good things for the industry broadly), but ultimately see better ways to play that thematic in large cap," Barth said in a note to clients.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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