ATB Cormark raises target for Canadian Natural Resources stock to CAD 85.00

Published on 10/26/2026 at 17:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ATB Cormark set an outperform target of CAD 85.00 on October 22, 2026. Canadian Natural Resources stock costs EUR 49.11 on October 26, 2026.

Target and reporting date

ATB Cormark raised its target to CAD 85.00 on October 22, 2026.
Second-quarter production reached 1,677,000 barrels of oil equivalent per day, up 18.00 percent year over year.
Canadian Natural Resources stock costs EUR 49.11 at Lang & Schwarz on October 26, 2026 at 4:47 p.m. CEST.
Third-quarter results are scheduled for November 5, 2026.

CNQ, CA1363851017, Illustration mit AI erstellt.

ATB Cormark raised its Canadian Natural Resources target from CAD 70.00 to CAD 85.00 and kept an outperform rating in a report dated October 22, 2026, according to MarketBeat. Canadian Natural Resources stock was trading at EUR 49.11 at Lang & Schwarz on October 26, 2026 at 4:47 p.m. CEST.

Production sets the operating frame

Canadian Natural Resources reported second-quarter revenue of CAD 14.74 billion and quarterly earnings per share of CAD 2.19 on August 6, 2026, according to MarketBeat. The same report said production reached 1,677,000 barrels of oil equivalent per day in the quarter, up 18.00 percent from the prior year.

The company also raised its full-year production guidance to 1,637,000-1,682,000 barrels of oil equivalent per day from 1,615,000-1,665,000. The midpoint increased by 20,000 barrels of oil equivalent per day, with the Peace River acquisition and conventional drilling cited as factors.

How much distance does the target imply?

The CAD 85.00 target sits 12.58 percent above the CAD 75.50 Canadian share price cited by MarketBeat on October 22, 2026. That calculation uses the Canadian listing and is separate from the German euro quotation. MarketBeat also reported six buy ratings and six hold ratings in its analyst count.

November date sets the next test

Canadian Natural Resources is scheduled to report third-quarter 2026 results on November 5, 2026, with the period ending September 30, 2026, according to Seeking Alpha. The release will provide the first full quarterly read on production after the Horizon turnaround period and the integration of the Peace River assets.

For investors, the key contrast is clear: the latest quarter combined CAD 14.74 billion of revenue with 1,677,000 barrels of oil equivalent per day, while the upcoming report will show whether the higher production guidance translated into results during the third quarter.

Stock position and trading view

On the NYSE, Canadian Natural Resources last traded at USD 54.83 on October 26, 2026 at 11:59 a.m. ET. Its market capitalization was USD 113.0 billion, with a 52-week range of USD 30.13 to USD 55.50 and a price-to-earnings ratio of 13.68.

Canadian Natural operates in Western Canada, the U.K. portion of the North Sea and Offshore Africa. Its combination of oil sands, conventional liquids and natural gas gives the November results several operating measures to watch beyond earnings per share.