Canadian Natural Resources Limited (CNQ) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$44.77
Price Target
$35.00
Target Range
$35.00 — $35.00
Analyst Rating
Buy
Forward P/E8.0x
Trailing P/E11.8x
Forward PEG—
Implied Growth+7.9%
Median Target$35.00
Analyst Spread0.0%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$35
-21.8%
Consensus
$35
-21.8%
Bull Case
$35
-21.8%
CNQ Price Target Analysis
Updated May 8, 2026As of May 8, 2026, Canadian Natural Resources Limited (CNQ) has a Wall Street consensus price target of $35.00, based on estimates from 37 covering analysts. With the stock currently trading at $44.77, this represents a potential downside of -21.8%. The company has a market capitalization of $93.39B.
Analyst price targets range from a low of $35.00 to a high of $35.00, representing a 0% spread in expectations. The median target of $35.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
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 11.8x and forward P/E of 8.0x. Analysts expect EPS to grow +7.9% over the next year.
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+6.7%
Avg Forward P/E27.6x
Peers with Coverage10 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 CVECenovus Energy Inc. | $53.6B | $28.46 | $27.67 | -2.8% | Hold | 7.5x | 27 |
 SUSuncor Energy Inc. | $75.7B | $63.75 | $62.00 | -2.7% | Buy | 7.7x | 31 |
 IMOImperial Oil Limited | $62.6B | $125.84 | $44.99 | -64.2% | Hold | 15.0x | 20 |
 MEGMontrose Environmental Group, Inc. | $798M | $22.07 | $49.33 | +123.5% | Buy | 172.3x | 12 |
 OVVOvintiv Inc. | $14.8B | $58.29 | $56.20 | -3.6% | Buy | 7.5x | 26 |
 COPConocoPhillips | $140.0B | $114.88 | $127.07 | +10.6% | Buy | 13.3x | 52 |
 EOGEOG Resources, Inc. | $69.7B | $130.89 | $137.93 | +5.4% | Buy | 9.1x | 66 |
 DVNDevon Energy Corporation | $28.2B | $45.35 | $53.78 | +18.6% | Buy | 8.6x | 64 |
 ENBEnbridge Inc. | $117.8B | $53.99 | $46.86 | -13.2% | Buy | 17.9x | 25 |
 TRPTC Energy Corporation | $67.8B | $65.09 | $62.00 | -4.7% | Hold | 17.4x | 19 |
Upside Potential Comparison
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Start ComparisonCNQ — Frequently Asked Questions
Quick answers to the most common questions about buying CNQ stock.
What is the CNQ stock price target for 2026?
CNQ's consensus price target is $35, -21.8% below the current price of $44.77. The 37 analysts tracking CNQ see downside risk at present valuations.
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 $35 implies -21.8% downside from current levels.
Is CNQ stock overvalued or undervalued?
With a forward P/E of 8.0117x, CNQ trades at a relatively low valuation. The consensus target of $35 implies -21.8% move, suggesting the market may be pricing in risks.
How high can CNQ stock go?
The most bullish Wall Street analyst has a price target of $35 for CNQ, while the most conservative target is $35. The consensus of $35 represents the median expectation. 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 $35, with estimates ranging from $35 (bear case) to $35 (bull case). The median consensus rating is "Buy".
What is CNQ's forward P/E ratio?
CNQ trades at a forward P/E ratio of 8.0x based on next-twelve-months earnings estimates compared to a trailing P/E of 11.8x. 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?
Analysts are cautious on CNQ, with 0 Sell ratings and a price target of $35 (-21.8% from current price). The "Buy" consensus suggests careful evaluation before buying. 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 $35, a 0% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $35 consensus represents the middle ground.