Raymond James upgraded Suncor (SU) to Outperform from Market Perform with a price target of C$70, up from C$61. The stock’s valuation is “increasingly compelling,” the analyst tells investors in a research note. The firm says Suncor is now trading at a greater than 10% sustaining free cash flow yield, which is the second highest in the peer group. A double-digit sustaining free cash flow yield is “reasonably attractive,” contends Raymond James.
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