Suncor upgraded to Buy at TD Securities on consistent execution

As previously reported, TD Securities analyst Menno Hulshof upgraded Suncor to Buy from Hold with a C$59 price target. Suncor posted a “strong” production beat in a turnaround-intensive quarter as the Street appears to have overestimated turnaround impacts with maintenance completed ahead of schedule, notes the analyst. The firm cites consistent execution, noting that the company has “beat” for four consecutive quarters, as well as recent share-price weakness for its upgrade.