Suncor Energy (SU) posted a "strong operational/financial quarter" with production exceeding expectations, mainly due to better performance at Grand Banks and significant contribution from the downstream segment, RBC Capital Markets said in a note emailed Thursday.
The company reaffirmed its 2025 production guidance with a midpoint of 825,000 barrels per day, under a 6.2 billion Canadian dollars ($4.45 billion) capital expenditure plan, according to the note.
The firm said Suncor's financials remain clean despite a slight increase in net debt and the company is returning nearly all of its excess free fund flow after dividends through share buybacks.
"We believe the company should trade at an average/above-average valuation vis-a-vis our global major peer group given its physical integration, impressive upstream-downstream operating performance, free cash flow generation, solid balance sheet and ample shareholder returns," RBC added.
The firm reaffirmed the outperform rating on Suncor's stock with a CA$65 price target.
Price: 34.16, Change: +0.20, Percent Change: +0.57
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。