RBC Capital raised the firm’s price target on Canadian Natural to C$90 from C$82 and keeps an Outperform rating on the shares. The analyst is positive on the company’s strong leadership team, shareholder alignment, long life-low decline portfolio, abundant free cash flow generation, robust balance sheet and best-in-class operating performance. Canadian Natural Resources is also its favorite senior producer and is on both of RBC’s Global Energy Best Ideas and Top 30 Global Ideas lists, the firm tells investors in a research note.
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