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RBC Capital Bumps Up Suncor Energy Price Target By 12%

Published 11/05/2022, 20:24
Updated 11/05/2022, 21:10
© Reuters.  RBC Capital Bumps Up Suncor Energy Price Target By 12%
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  • RBC Capital analyst Greg Pardy raised the price target for Suncor Energy Inc. (TSX: SU) (NYSE: SU) to C$47 from C$42 while maintaining the Sector Perform rating on the shares.
  • The analyst states that Suncor’s Q1 results were solid while its conference call was uneventful.
  • Pardy mentions that Suncor’s operating performance path will determine its relative market performance over the coming months.
  • Pardy believes Suncor should trade at an average/below average multiple vis-à-vis peer group given its physical integration, free cash flow generation, and shareholder returns, partly offset by disappointing operating performance in recent years.
  • Price Action: SU shares are trading higher by 3.85% at C$46.43 on TSX and higher by 4.22% at $35.79 on NYSE on the last check Wednesday.
Mar 2022 Wells Fargo (NYSE:WFC)MaintainsOverweight
Feb 2022RBC CapitalDowngradesOutperformSector Perform
Feb 2022Tudor PickeringDowngradesBuyHold

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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