TDAfter updates to their commodity price deck for the third quarter as well as 2024 and 2025, featuring an unchanged oil price forecast and “negative and more material” changes to their natural gas expectations, analysts at TD Cowen lowered their 2025 cash flow per share projections by an average of 3 per cent for their coverage universe, leading to a 4-per-cent drop to their target prices. Changes include: Canadian Natural Resources Ltd. ( “buy”) to $56 from $60, Cenovus Energy Inc. (“hold”) to $31 from $33 and Suncor Energy Inc. ( “buy”) to $60 from $59. The averages on the Street are $54.68, $32.95 and $60.12, respectively.