Suncor Energy Maintained at Buy Rating with Price Target of C$66.00 Following Q2 Results

Suncor Energy maintained a buy rating by Tudor, Pickering, Holt following Q2 results. The price target was set at C$66.00.

Suncor Energy Inc. (NYSE: SU) has maintained a buy rating from Tudor, Pickering, Holt & Co. (TPH) following the release of its Q2 2025 earnings report. The investment bank has raised its price target for Suncor shares to C$66.00, up from the previous target of C$63.00 [1].

The Q2 2025 earnings report showed that Suncor generated $2.7 billion in adjusted funds from operations (AFFO) and $1.0 billion in free funds flow. Net earnings for the quarter were $1.134 billion, down from $1.568 billion in the same period of 2024. The decline was attributed to lower upstream price realizations. Despite this, Suncor achieved a record second-quarter upstream production of 808,000 barrels per day (bbls/d) and a record H1 production of 831,000 bbls/d [1].

In the upstream segment, Suncor's total Oil Sands bitumen production hit a Q2 record of 860,800 bbls/d, with E&P output increasing to 59,700 bbls/d, including increased production from the Hebron and White Rose fields. Downstream, the company achieved a record Q2 refinery throughput of 442,000 bbls/d with a utilization rate of 95%, and a record H1 throughput of 462,000 bbls/d. Refinery product sales also set a second-quarter record at 600,500 bbls/d [1].

Suncor Energy is an integrated energy company operating through Oil Sands, Exploration & Production, and Refining & Marketing segments. The company's strong performance in Q2 2025, despite challenges in upstream price realizations, has led TPH to maintain a positive outlook on Suncor's prospects.

References:
[1] https://finance.yahoo.com/news/td-securities-raises-suncor-energy-035224585.html