Deutsche Bank Calls Suncor Energy a Long-term Geopolitical Hedge

| About: Suncor Energy (SU)

Deutsche Bank has hiked its price target on Suncor Energy Inc. (NYSE:SU) to US$100 from US$95, calling the stock a “long-term geopolitical hedge.”

The forecast represents upside of roughly 30%.

“Suncor’s massive oil sands positions are expected to generate sustained production growth with no declines over the next 50 years,” the firm said in a note to clients.

Deutsche Bank changed its recommendation to ‘buy’ from ‘hold’ for Suncor shares, saying they are currently trading at a discount.

The stock was up more than US$2.59, or 3.5%, an hour before the close.

SU 1-yr chart:

SU 1-yr chart

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Tagged: , Independent Oil & Gas, Canada
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