Lloyd Byrne, an analyst from Jefferies, maintained the Hold rating on Suncor Energy. The associated price target was raised to C$66.00.
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Lloyd Byrne has given his Hold rating due to a combination of factors, including Suncor Energy’s conservative guidance for 2026. The company’s projections align with consensus estimates, but there is an expectation that Suncor will meet the lower end of its capital expenditure guidance while achieving the higher end of its production targets. This cautious approach suggests a stable but not overly aggressive growth outlook.
Additionally, Suncor’s focus on share buybacks, projected to be approximately C$3.3 billion in 2026, is viewed positively. However, the overall conservative stance on capital expenditures and production guidance tempers enthusiasm, leading to the Hold rating. The upcoming update to the Investor Day targets in early January may provide further insights into the company’s strategic direction.
Byrne covers the Energy sector, focusing on stocks such as Baker Hughes Company, EQT, and Cenovus Energy. According to TipRanks, Byrne has an average return of 17.6% and a 57.75% success rate on recommended stocks.