In this article, we discuss analysts’ updated recommendations for 5 companies. If you want to read our detailed analysis of these companies, go directly to Analysts Just Revised Their Ratings for These 10 Companies.
5. Suncor Energy Inc. (NYSE:SU)
Number of Hedge Fund Holders: 41
Shares of Suncor Energy Inc. (NYSE:SU) jumped over eight percent on Tuesday, June 21, 2022, after RBC Capital improved its ratings for the Canadian integrated energy company from “Sector Perform” to “Outperform.”
The upgrade follows RBC Capital analyst Greg Pardy’s recent institutional meeting with the company. Following the meeting, Pardy sees Suncor Energy Inc. (NYSE:SU) reclaiming its best-in-class status with enhanced operational reliability.
Separately, investment management firm ClearBridge Investments mentioned Suncor Energy Inc. (NYSE:SU) in its first-quarter 2022 investor letter published in April. Here’s what the fund said:
“Also within the structural bucket, we added to our commodity exposure with the purchase of Suncor Energy (NYSE:SU). Suncor, a past holding, is a Canadian integrated oil company where we capitalized on attractive valuation due to a COVID-19-induced slowdown. We expect recovery in oil demand and strong pricing will result in faster than expected free cash flow growth and financial deleveraging.
The structural bucket has the shortest investment horizon across the spectrum of growth companies we target in the Strategy. We closely monitor the macro impacts and turnaround progress of these companies and will be disciplined sellers when the thesis for a holding plays out.”