Tudor, Pickering, Holt on Wednesday maintained its buy rating on the shares of Suncor Energy (SU.TO, SU) with a C$75.00 price target ahead of the oil producer and refiner's fourth-quarter results.
"Heading into earnings and following the company's Q4 pre-release, we've slightly increased our Q4'25 estimates, with our CFPS now sitting at C$2.73 vs. our prior C$2.65, above Street C$2.56. MTM factors were the bulk of our update aside from true-ups for pre-released metrics (909mbopd Upstream production, 504mbpd Downstream throughput), with the delta vs. Street owing to beats in both Oil Sands (TPHe C$2.50B EBITDA vs. Street C$2.43B) and Refining (TPHe C$1.27B vs. Street C$1.14B); TPHe C$1.59B capex is ~in-line with Street C$1.57B. Big picture, we'd anticipate a relatively straightforward update that (i) reiterates how Q4'25 ops results delivered prior Investor Day objectives and (ii) looks ahead to the upcoming investor day on 3/31/26," analyst Jeoffrey Lambujon wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 69.68, Change: +1.37, Percent Change: +2.01
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