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RBC Keeps Canadian Natural Resources' Outperform Rating, C$80 Price Target

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-- RBC Capital Markets on Monday retained Canadian Natural Resources' (CNQ.TO) outperform rating and C$80 price target ahead of the release of the company's first-quarter results.

RBC expects CNQ to book operating earnings of $0.83 per share, compared to the Street forecast of $1.04.

RBC estimated CNQ's production at 1.6 million barrels of oil equivalent per day, in line with the Street forecast.

RBC's capital expenditure estimate of $1.50 billion was also in line with the Street projection of $1.45 billion.

CNQ is RBC's favorite senior producer and is part of RBC's Global Energy Best Ideas list.

CNQ traded at $65.24 per share at last look Tuesday on the Toronto Stock Exchange.

Price: $64.88, Change: $+0.13, Percent Change: +0.20%

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