March 11, 2019 / 4:31 PM / 8 months ago

BUZZ-Suncor Energy: Canaccord sees low cost FCF growth in 2020-23; raises PT

** Canaccord Genuity raises PT of the integrated Canadian energy company to C$60 from C$55

** Brokerage believes co can deliver further margin improvements and operational excellence without significant production growth due to the completion of the ramp-up at Fort Hills

** Estimates the FCF benefit could be at least ~$3.5 bln with only a handful of low-cost incremental projects, estimate still conservative - Canaccord Genuity

** Suncor shows the highest organic production growth of the integrateds while providing a significant FCF profile - brokerage

** Shares of the company were up 1.6 pct at C$44.41

** Out of 28 brokerages, 23 rate the stock “buy” or higher, 5 “hold”; median PT C$53

** Including today’s gains, stock up 16.5 pct YTD (Reporting by Shanti S Nair in Bengaluru)

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