Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (50941)	11/21/2018 9:13:27 AM
From: Goose94	Read Replies (1) \| Respond to of 202691

Suncor Energy (SU-T) Canaccord Genuity analyst Dennis Fong lowered his target price to $65 from $67. Mr. Fong rates the shares "buy." Analysts on average target the shares at $60.36. Mr. Fong says in a note: "Given the weak share prices through Q3/18 and the strong free cash flow generation; we expect [large-cap Canadian energy companies] could look at accelerating the repurchase of shares through to the end of the year. We saw Imperial Oil (IMO-T) repurchase 10 million shares, Canadian Natural Resources (CNQ-T) repurchase 9.6 million shares and Suncor Energy repurchase 16.8 shares through Q3/18 and Q4-to-date. We expect that these companies will look at renewing their respective NCIB next year at the same (if not a higher) level than in 2018. On consensus estimates, the Canadian large-caps are showing production growth of 9 per cent and FCF [free cash flow] yield of 9 per cent vs. the U.S. counterparts with 12-per-cent production growth and FCF yield of 6 per cent. We believe this is important for investors as the focus shifts ... toward returning ... value back to shareholders."