March 14, 2019 / 11:27 AM / 8 months ago

BUZZ-CS upgrades Suncor on div raise, lowers Husky on Alberta cuts

** Credit Suisse upgrades Suncor Energy to “outperform” from “neutral”, citing better-than-expected annual dividend raise

** SU announced additional stock buyback of C$2 bln last month

** Brokerage hikes PT by C$4 to C$52, says co one of the most shareholder-friendly energy companies, with an integrated business model, no exposure to Alberta natural gas prices, among others

** CS upgrades Imperial Oil to “neutral” from “underperform”, raises PT to C$39 from C$38

** Given contracted pipeline and rail capacity, IMO will be less affected by delays on Enbridge Inc’s Line 3 pipeline - CS

** Lowers Husky Energy to “neutral” from “outperform”; says HSE is in the “have-nots” bucket due to Alberta’s output cuts

** CS cuts PT to C$18 from C$24; sees steeper output cuts for HSE for period Feb and March (Reporting by John Benny in Bengaluru)

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