March 12, 2019 / 10:52 AM / 2 months ago

BUZZ-Canadian Natural Resources: Mizuho starts with 'buy', says in 'sweet spot' for investment

** Mizuho starts Canada’s largest oil producer with “buy” rating, C$45 PT

** Says co to be at perfect point of capex/cash flow cycle, with major project spending and acquisition completed a year ago

** Is positioned as premier producer of distillate-rich synthetic crude oil, a great place to be for a diesel-skewed future - Mizuho

** Co has shareholder-friendly approach to CF allocation and expects substantial FCF above C$5.5 bln-C$6.2 bln of capex + dividend if WTI is at $55 -brokerage

** Out of 27 brokerages, 25 rate the stock “buy” or higher, 2 “hold”; median PT C$45

** Up to Monday’s close, stock up 10.5 pct YTD (Reporting by Shanti S Nair in Bengaluru)

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