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Suncor downgraded to Equal Weight from Overweight at Morgan Stanley
The Fly

Suncor downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Suncor (SU) to Equal Weight from Overweight with a price target of C$56, down from C$57. Shares have risen 23% year-to-date, outperforming Canadian peers by about 14% on the back of strong operations, a series of strong quarterly results, and higher shareholder returns, notes the analyst. The company’s 9% free cash flow yield in 2025 is now fairly in-line with peers and shares hit the firm’s price target in recent weeks, the analyst added.

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