![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2022/05/11/bz-briefs-canada-v3_5.jpg)
- RBC Capital analyst Greg Pardy raised the price target for Suncor Energy Inc. (TSX:SU) (NYSE:SU) to C$47 from C$42 while maintaining the Sector Perform rating on the shares.
- The analyst states that Suncor’s Q1 results were solid while its conference call was uneventful.
- Pardy mentions that Suncor’s operating performance path will determine its relative market performance over the coming months.
- Pardy believes Suncor should trade at an average/below average multiple vis-à-vis peer group given its physical integration, free cash flow generation, and shareholder returns, partly offset by disappointing operating performance in recent years.
- Price Action: SU shares are trading higher by 3.85% at C$46.43 on TSX and higher by 4.22% at $35.79 on NYSE on the last check Wednesday.