Suncor price target raised to C$57 from C$55 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Suncor (SU) to C$57 from C$55 and keeps an Overweight rating on the shares. E&Ps posted strong Q3 updates, highlighting both capital efficiency gains and potential cost deflation as tailwinds for 2025, the analyst tells investors. Most in the firm’s coverage are still planning for low or no growth, while some gas activity may be deferred until prices recover more, Scotiabank adds.