Canadian Natural initiated with a Buy at UBS

UBS analyst Manav Gupta initiated coverage of Canadian Natural Resources with a Buy rating and C$90 price target. The analyst calls the company a “cash machine.” Canadian Natural is the lowest cost oil sands mining and upgrader operator and the highest net back operator, the analyst tells investors in a research note. The firm says the company’s long life low decline assets have an advantage over U.S. shale peers.