Suncor price target lowered to C$65 from C$66 at RBC Capital

RBC Capital lowered the firm’s price target on Suncor (SU) to C$65 from C$66 and keeps an Outperform rating on the shares. The firm’s assumed multiples reflect the company’s integration and balance sheet liquidity, though this is partly offset by the need to address its Base Mine depletion down the road, the analyst tells investors in a research note. Suncor’s operating and financial momentum under CEO Rich Kruger is also “unmistakable”, the firm added.