Zacks.com Spotlights Vertiv, RenaissanceRe, Ameren, Canadian Natural Resources, and FedEx
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Market Overview: The U.S. economy is experiencing challenges such as persistent inflation and declining job growth, prompting the Federal Reserve to cut interest rates for the third time this year, complicating stock market interpretations for retail investors.
Sales Growth as a Metric: Focusing on sales growth rather than earnings is recommended for stock evaluation, as it provides a clearer picture of a company's business momentum and potential for future earnings improvement.
Highlighted Stocks: Five stocks with strong sales growth potential are identified: Vertiv Holdings Co (27.5% expected growth), RenaissanceRe Holdings Ltd (3.4%), Ameren Corp (17.7%), Canadian Natural Resources Ltd (5.9%), and FedEx Corp (4.6%).
Investment Tools: Zacks Investment Research offers the Research Wizard, a user-friendly stock picking and backtesting software, to help investors identify promising stocks based on sales growth and other metrics.
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Analyst Views on CNQ
Wall Street analysts forecast CNQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNQ is 39.17 USD with a low forecast of 33.83 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
4 Buy
5 Hold
0 Sell
Moderate Buy
Current: 37.100
Low
33.83
Averages
39.17
High
62.00
Current: 37.100
Low
33.83
Averages
39.17
High
62.00
About CNQ
Canadian Natural Resources Limited is a senior crude oil and natural gas production company. The Company has operations in its core areas located in Western Canada, the United Kingdom portion of the North Sea and Offshore Africa. Its Oil Sands Mining and Upgrading segment produces synthetic crude oil through bitumen mining and upgrading operations at Horizon Oil Sands (Horizon) and through the Company's direct and indirect interest in the Athabasca Oil Sands Project (AOSP). Within Western Canada in the Midstream and Refining segment, the Company maintains certain activities that include pipeline operations, an electricity co-generation system and an investment in the North West Redwater Partnership (NWRP), a general partnership formed to upgrade and refine bitumen in the Province of Alberta. Its Pelican Lake asset is a large, contiguous, shallow, medium crude oil pool. It produces natural gas in western Canada and has a significant land base in both the Montney and Deep Basin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Regulatory Approval Filing: The company filed for federal approval with Canada's Competition Bureau on December 30, although specific deal details remain undisclosed, this move underscores its firm acquisition intentions.
- Asset Background: Tourmaline Oil is a major natural gas producer in Canada's Montney Basin, which produces approximately 10 billion cubic feet of natural gas daily, accounting for about half of Canada's total output, highlighting the strategic significance of this transaction.
- Market Dynamics: Interest in the Montney Basin has surged due to the launch of the LNG Canada export terminal in British Columbia last year, further driving attention to the region's economic production potential.
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