Tudor, Pickering, Holt on Monday maintained its buy rating on the shares of Suncor Energy (SU.TO, SU) with a C$90.00 price target ahead of the oil producer and refiner's Investor Day.
"Heading into SU's Investor Day in Toronto tomorrow 3/31/26, we're looking forward to management detailing its plan across multiple time frames. Nearer-term, we'd look for multi-year transparency on any refresh to production and cost targets, following achievements since the May'24 Investor Day. Within Upstream, Fort Hills and Firebag stand out as near-term levers within existing operations; at Fort Hills, focus is on opening the North Pit in the right manner and sequencing material sustainably into the plant (management flagged a near-term production ambition on the order of ~200+mbopd vs. the legacy 175 target and ~194 nameplate). Longer-term, projects like Lewis and Firebag Phase 5 also drew airtime on the Q4'25 call. We'll also be watchful for commentary highlighting optionality within the resource base and/or capital efficiency that will keep annual capex to <C$6B/year, and how a TPHe strengthened mid-cycle commodity price outlook could translate to FCF upside and allocation across dividend growth, steady buybacks, and investment to replace/potentially grow production," 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: 93.73, Change: +1.23, Percent Change: +1.33
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