The Globe and Mail reports in its Wednesday, April 24, edition that Desjardins analyst Chris MacCulloch has downgraded his recommendation for Canadian Natural Resources to "hold" from "buy." The Globe's David Leeder writes that Mr. MacCulloch gave his share target a $6 boost to $110. Analysts on average target the shares at $110.87. Mr. MacCulloch says in a note: "The stock has consistently screened among the top-performing companies in recent months as generalist and international investors flock to the story for commodity price exposure from one of the best-run companies in the Canadian energy sector, with an unparalleled track record of operational execution and disciplined capital allocation. As a result, the valuation has begun to stretch beyond our comfort zone, which limits the potential for further upside, from our perspective. And while acknowledging that Canadian Natural will likely remain the 'go to' name for generalists, we believe this also opens the door for capital flight if oil prices deteriorate as we anticipate heading into 2025. Meanwhile, we see limited near-term catalysts for the story. ... We have every confidence that Canadian Natural will continue delivering superior operational performance."