{"id":303710,"date":"2010-02-10T10:21:00","date_gmt":"2010-02-10T15:21:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:394019"},"modified":"2010-02-10T10:21:00","modified_gmt":"2010-02-10T15:21:00","slug":"another-fire-at-suncor-worries-analysts","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/303710","title":{"rendered":"&#8216;Another fire&#8217; at Suncor worries analysts"},"content":{"rendered":"<p><a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=SU&amp;id=12234354\" >Suncor Energy Inc.<\/a> has been on fire lately, but for all the wrong reasons.<\/p>\n<p>Yesterday, <a href=\"http:\/\/www.financialpost.com\/story.html?id=2543544\" >the country&#39;s largest energy company had another fire at its oil sands operations<\/a>, its third in five months. Analysts were not impressed, with some now questioning the company&#39;s reliability.<\/p>\n<p>&quot;We have become increasingly concerned about [Suncor&#39;s] execution performance,&quot; Greg Pardy, analyst with RBC Capital Markets, said in a note Wednesday.&nbsp;<\/p>\n<p>Expecting four weeks of repairs, Mr. Pardy has trimmed his 2010 synthetic oil production forecast to 284,000 barrels a day, down 3.4%, while raising expected cash costs 4% to $38 a barrel. <\/p>\n<p>He&#39;s also downgraded Suncor to Sector Perform, and cut his target price 6% to $46.<\/p>\n<p>&quot;It is never easy to downgrade a stock once most of the bad news appears to be reflected in its valuation, but Suncor may trade in a sideways range in coming months pending improved oil sands operating performance and execution in general,&quot; he said.<\/p>\n<p>Meanwhile Andrew Potter, analyst with UBS, maintains a Buy rating and $47 price target, noting the fire does not have any material impact on asset value but it does freeze any operational momentum Suncor had built up through 2009.<\/p>\n<p><a href=\"mailto:erlam@nationalpost.com\">Eric Lam<\/a> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/np\/aggbug.aspx?PostID=394019\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Suncor Energy Inc. has been on fire lately, but for all the wrong reasons. Yesterday, the country&#39;s largest energy company had another fire at its oil sands operations, its third in five months. Analysts were not impressed, with some now questioning the company&#39;s reliability. &quot;We have become increasingly concerned about [Suncor&#39;s] execution performance,&quot; Greg Pardy, [&hellip;]<\/p>\n","protected":false},"author":4586,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,7],"tags":[],"class_list":["post-303710","post","type-post","status-publish","format-standard","hentry","category-energy","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/303710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4586"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=303710"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/303710\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=303710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=303710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=303710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}