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Analyst Actions: Suncor Maintained at Outperform by RBC Following Q4 Results

· 02/05/2021 06:09

11:04 AM EST, 02/05/2021 (MT Newswires) -- RBC Capital Markets on Friday reiterated its outperform rating on Suncor Energy (SU.TO) with a C$28.00 target price after the country's largest oil producer and refiner released fourth-quarter results that failed to impress.

"Our bullish stance towards Suncor as a mean-reversion story remains intact following its mixed quarterly results," the investment bank noted. "From where we sit, the company has moved onto its front foot as its drives operational safety and reliability, and balances shareholder distributions with the necessity of a strong balance sheet. We are maintaining an Outperform recommendation on Suncor and our one-year target price of $28 per share. Suncor is on our Best Energy Ideas List."

(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)

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