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.
An offshore oil rig at night, illuminated by floodlights, with its shape silhouetted against the dark sky.
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. 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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This article is originally published at Insider Monkey.