Canadian Natural Resources Limited (CNQ) Price Target Analysis
Updated Jul 2, 2026
Analyst Rating: Buy
Based on 37 analysts24.9% Below Target
CNQ trades 24.9% below Wall Street's consensus target of $50.81.
Current Price$40.69
Average Target$50.81
Target
Current
Low$35.00
Median$50.93
High$63.66
Analyst Target Range
Forward P/E9.6x
(Value)
PEG Ratio—
Implied Growth-8.7%
(Declining)
Analyst Spread56.4%
(Moderate)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes CNQ achieves its forward estimates and maintains a stable P/E multiple of 9.6x. This scenario reflects the blended consensus of 37 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
CNQ Price Target Analysis
Updated July 8, 2026As of July 8, 2026, Canadian Natural Resources Limited (CNQ) has a Wall Street consensus price target of $50.81, based on estimates from 37 covering analysts. With the stock currently trading at $40.69, this represents a potential upside of +24.9%. The company has a market capitalization of $84.88B.
Analyst price targets range from a low of $35.00 to a high of $63.66, representing a 56% spread in expectations. The median target of $50.93 aligns closely with the consensus average. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Buy, with 28 analysts rating the stock as a Buy or Strong Buy,9 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, CNQ trades at a trailing P/E of 11.2x and forward P/E of 9.6x. Analysts expect EPS to grow -8.7% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $65.75, with bear and bull scenarios of $41.42 and $86.63 respectively. Model confidence stands at 48/100, suggesting limited visibility into future performance.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Energy stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+27.6%
Industry Consensus
Avg Forward P/E
21.4x
(Fair)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 CVECenovus Energy Inc. | $47.5B | $25.21 | $29.00 | +15.0% | Hold | 5.7x | 27 |
 SUSuncor Energy Inc. | $63.6B | $53.57 | $71.00 | +32.5% | Buy | 5.9x | 31 |
 IMOImperial Oil Limited | $58.0B | $116.57 | $44.99 | -61.4% | Hold | 9.1x | 22 |
 MEGMontrose Environmental Group, Inc. | $566M | $15.64 | $49.33 | +215.4% | Buy | 122.1x | 12 |
 OVVOvintiv Inc. | $15.4B | $54.97 | $68.78 | +25.1% | Buy | 7.1x | 26 |
 COPConocoPhillips | $132.2B | $108.44 | $133.54 | +23.1% | Buy | 10.8x | 52 |
 EOGEOG Resources, Inc. | $71.7B | $134.54 | $150.86 | +12.1% | Buy | 7.9x | 66 |
 DVNDevon Energy Corporation | $26.4B | $42.41 | $58.80 | +38.6% | Buy | 7.8x | 64 |
 ENBEnbridge Inc. | $120.2B | $55.05 | $46.86 | -14.9% | Buy | 19.1x | 25 |
 TRPTC Energy Corporation | $71.7B | $68.80 | $62.00 | -9.9% | Hold | 18.9x | 19 |
CNQ — Frequently Asked Questions
Quick answers to the most common questions about buying CNQ stock.
What is the CNQ stock price target for 2026?
The consensus Wall Street price target for CNQ is $50.81, representing 24.9% upside from the current price of $40.69. With 37 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
Is CNQ a buy, sell, or hold?
CNQ has a consensus rating of "Buy" based on 37 Wall Street analysts. The rating breakdown is predominantly bullish, with 28 Buy/Strong Buy ratings. The consensus 12-month price target of $50.81 implies 24.9% upside from current levels.
Is CNQ stock overvalued or undervalued?
With a forward P/E of 9.6162x, CNQ trades at a relatively low valuation. The consensus target of $50.81 implies 24.9% appreciation, suggesting meaningful undervaluation.
How high can CNQ stock go?
The most bullish Wall Street analyst has a price target of $63.6598 for CNQ, while the most conservative target is $35. The consensus of $50.81 represents the median expectation. Our quantitative valuation model projects a bull case target of $87 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover CNQ stock?
CNQ is heavily covered by Wall Street, with 37 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 27 have Buy ratings, 9 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the CNQ stock forecast?
The 12-month CNQ stock forecast based on 37 Wall Street analysts shows a consensus price target of $50.81, with estimates ranging from $35 (bear case) to $63.6598 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $66, with bear/bull scenarios of $41/$87.
What is CNQ's fair value based on fundamentals?
Our quantitative valuation model calculates CNQ's fair value at $66 (base case), with a bear case of $41 and bull case of $87. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 48/100.
What is CNQ's forward P/E ratio?
CNQ trades at a forward P/E ratio of 9.6x based on next-twelve-months earnings estimates compared to a trailing P/E of 11.2x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy CNQ stock?
Wall Street analysts are very optimistic on CNQ, with a "Buy" consensus rating and $50.81 price target (24.9% upside). 28 of 37 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do CNQ price targets vary so much?
CNQ analyst price targets range from $35 to $63.6598, a 56% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $50.81 consensus represents the middle ground. Our model's $41-$87 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
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