Analyst Lifts Strathcona Price Target to C$49, Citing Robust Long-Term Growth Outlook and Attractive Risk-Reward

In a report released yesterday, Menno Hulshof from TD Cowen maintained a Buy rating on Strathcona Resources, with a price target of C$49.00.

Menno Hulshof has given his Buy rating due to a combination of factors, including Strathcona’s strong multi‑year growth profile and solid project execution. He highlights that, despite a softer first quarter and a minor miss versus consensus on production and funds flow, 2026 guidance is intact, the Meota Central Phase 1 project is largely complete, on time and on budget, and the company still targets around 10% annual production growth through 2031 and potentially beyond.

Hulshof also points to meaningful long‑dated oil sands growth options, with key projects already substantially permitted, giving management flexibility to accelerate development if commodity prices remain supportive. Coupled with improving netbacks driven by stronger pricing, a free cash flow strategy that prioritizes growth, and his upward revision of the price target from C$47 to C$49, he sees attractive risk‑reward in the shares, warranting a Buy recommendation.

In another report released on April 21, Scotiabank also maintained a Buy rating on the stock with a C$46.00 price target.

SCR’s price has also changed moderately for the past six months – from C$38.500 to C$43.610, which is a 13.27% increase.