CIBC Capital Markets raised its price targets on three Canadian large cap energy companies.

Analyst Dennis Fong increased his target on Canadian Natural Resources (CNQ.TO, CNQ) to C$75 from C$70, Cenovus Energy (CVE.TO, CVE) to C$52 from C$48, and Whitecap Resources (WCP.TO) to C$20 from C$19.

Fong maintained an outperformer rating on all three stocks.

"Strong commodity prices have helped provide a strong tailwind for cash flow and notwithstanding planned turnarounds in Q3/26, we continue to expect strong FCF generation with a view of accelerated deleveraging and increased returns to shareholders," the analyst said in a note to clients.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)