BMO Capital Maintains a Buy on Canadian Natural Resources (CNQ) With a C$56 PT

Canadian Natural Resources Limited (NYSE:CNQ) is one of the best cheap stocks under $50 to buy now. On July 14, BMO Capital analyst Randy Ollenberger maintained a Buy rating on Canadian Natural Resources Limited (NYSE:CNQ) and set a price target of C$56.00.

The analyst based the rating on the company’s financial resilience and operational excellence, stating that its notable efficiency and scale reflect its potential to maintain cost-effectiveness and industry-leading reliability. This holds especially true at the Albian Sands.

Ollenberger reasoned that Canadian Natural Resources Limited’s (NYSE:CNQ) strategic asset management and considerable reserves further support this operational expertise, lending it a competitive market position.

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and natural gas production company that explores, develops, markets, and produces natural gas and crude oil. Its operations are divided into the following segments: Oil Sands Mining & Upgrading, Midstream & Refining, and Exploration & Production.

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Disclosure: None. This article is originally published at Insider Monkey.