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Canadian Natural Resources Up 5.2% Since Stifel Upgraded One Week Ago (CNQ)

Published on Thu, 03/21/2013 - 09:10
By Adrienne Chilton

A week ago, Stifel upgraded Canadian Natural Resources from Hold to Buy. Canadian Natural Resources shares are selling at $32.76, 5.2% above the $31.14 price point of one week ago.

Potential upside of 13.7% exists for Canadian Natural Resources, based on a current level of $32.87 and analysts' average consensus price target of $37.36. The stock should discover initial support at its 50-day moving average (MA) of $30.62 and subsequent support at its 200-day MA of $29.57.

Canadian Natural Resources Ltd. acquires, explores for, develops, and produces natural gas, crude oil, and related products. The Company operates in the Canadian provinces of Alberta, northeastern British Columbia and Saskatchewan. Canadian Natural also operates in areas which have access for exploration activities and where pipeline systems already exist.

In the past 52 weeks, shares of Canadian Natural Resources have traded between a low of $25.01 and a high of $36.04 and are now at $32.87, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

By Adrienne Chilton