Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 1, 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 $43.77, this represents a potential downside of -20.0%. The company has a market capitalization of $91.18B.
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 21.0x and forward P/E of 15.3x. The forward PEG ratio of 3.29 reflects a premium valuation. Analysts expect EPS to grow -11.2% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $72.65, with bear and bull scenarios of $-14.67 and $308.62 respectively. Model confidence stands at 39/100, suggesting limited visibility into future performance.
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Start ComparisonCNQ's consensus price target is $35, -20.0% below the current price of $43.77. The 37 analysts tracking CNQ see downside risk at present valuations.
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 -20.0% downside from current levels.
With a forward P/E of 15.331x, CNQ trades at a relatively low valuation. The consensus target of $35 implies -20.0% move, suggesting the market may be pricing in risks.
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. Our quantitative valuation model projects a bull case target of $309 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
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.
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". Our proprietary valuation model produces a base case fair value of $73, with bear/bull scenarios of $-15/$309.
Our quantitative valuation model calculates CNQ's fair value at $73 (base case), with a bear case of $-15 and bull case of $309. 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 39/100.
CNQ trades at a forward P/E ratio of 15.3x based on next-twelve-months earnings estimates compared to a trailing P/E of 21.0x. 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.
Analysts are cautious on CNQ, with 0 Sell ratings and a price target of $35 (-20.0% 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.
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. Our model's $-15-$309 range provides an independent fundamental perspective.