UPDATE: Goldman Sachs Downgrades Suncor Energy (SU) to Buy (correction)

Goldman Sachs analyst Will Nance downgraded Suncor Energy (NYSE: SU) from Conviction Buy to Buy with a price target of $25.00 (from $29.00).

The analyst comments "We remove Suncor from the Conviction List for three reasons. First, we see few catalysts to move shares higher in the near-term, as investors will wait for greater evidence of improving operations. Second, as discussed here, we see other stocks better positioned to capitalize from growth from key mega-trends across our Natural Resources coverage. For example, we add BKR to the Americas Conviction List here. Third, in the context of Canada, we see better absolute upside (before the dividend) to other stocks in our coverage, including Cenovus among integrated oils. That said, we stay Buy-rated on Suncor"

You May Also Be Interested In

• Morgan Stanley Upgrades Suncor Energy (SU) to Overweight
• Viking Holdings (VIK) PT Raised to $121 at UBS Ahead of Q2 Earnings
• Keysight Technologies (KEYS) PT Raised to $440 at UBS Amid Broad-Based AI Strength