0834 ET - Suncor Energy's 4Q adjusted funds from operations came in 10% above the expectations of Raymond James, despite the Canadian company pre-releasing production and refining throughput figures. Analyst Michael Barth says the beat seems to largely be driven by lower corporate costs. He notes Suncor's 2025 guidance was unchanged. Barth expects the market to react positively to the results, given the renewal of is share buyback program is anticipated in late-February and Suncor has ample capacity to start the new program strong. Raymond James has a market perform stance on shares, which are up 8% in 2025 and 29% over the last 12 months. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 08:34 ET (13:34 GMT)
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