Scotiabank Raises PT on Suncor Energy (SU) to C$60 From C$57, Keeps Sector Perform Rating

Suncor Energy Inc. (NYSE:SU) is one of the best cheap stocks under $50 to buy now. On July 11, Scotiabank raised the firm’s price target on Suncor Energy Inc. (NYSE:SU) to C$60 from C$57, keeping a Sector Perform rating on the shares.

The analyst told investors that the firm is updating its price targets on the E&P stocks it has in coverage, stating that it anticipates weak global oil prices to affect Canadian oil benchmarks in 2025 and 2026.

Suncor Energy Inc. (NYSE:SU) is an integrated energy company that develops petroleum resource basins. Its operations are divided into the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations.

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Disclosure: None. This article is originally published at Insider Monkey.