UPDATE: Raymond James Resumes Coverage on Suncor Energy on Transition to Premier Growth and Income Model

In a report published Tuesday, Raymond James analyst Chris Cox resumed coverage on Suncor Energy (NYSE: SU) with an Outperform rating and $44.00 price target.

In the report, Raymond James noted, “We believe Suncor is successfully transitioning into a premier growth and income model, which we suspect will continue to be well received by investors. With the shares currently trading at the lowest EV/EBITDA valuation in the Canadian large cap energy space, we view the current price as an attractive entry point.”

Suncor Energy closed on Monday at $34.68.