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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (106880)	5/6/2021 8:01:27 AM
From: Goose94	Read Replies (2) of 203330

Suncor Energy (SU-T) ATB Capital Markets analyst William Lacey believes a "significant" improvement in oil prices could weigh on Suncor Energy. Mr. Lacey continues to rate Suncor "outperform." He cut his share target by $4 to $35. Analysts on average target the shares at $32.59. Mr. Lacey says in a note: "The royalty structures for a few assets are anticipated to see some upward pressure. At Syncrude, royalties will jump from the previous range of 2-4 per cent to 9-12 per cent. Oil Sands royalties will see a modest increase from the prior guidance of 1-3 per cent to 4-6 per cent. Another important note is that Firebag facility is now expected to hit payout later in 2021. ... Suncor is doing a good job of demonstrating what the impact of consistent operations can look like from the upstream side of the business, and the downstream assets continue to put up a steady performance. Unlike its U.S. peers, which can see material swings in terms of crack spreads and refinery profitability, the Canadian market provides more predictable returns, with exposure to the upside when refined product markets get better."

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