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Suncor has ‘more room to run,’ analyst says after Q3 earnings beat

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Suncor Energy Inc.’s third quarter results, released last week, impressed analysts and investors alike, and one industry watcher says he’s increasingly bullish on the oil and gas producer.

Dan Fong, head of research of Industrials & Energy Veritas Investment Research Corporation, talks about his perspective on the Canadian oil and gas sector.

“Fast forward to third quarter earnings, they blew expectations right out of the water, almost on every single measure they excelled, and we’re becoming increasingly confident that there’s more room to run here.”it earned $2.02 billion in its third fiscal quarter Fong said the results reflected strength across a number of smaller projects and initiatives the company has laid out in order to grow margins and keep costs low.

Fong said Suncor’s focus on worker safety, though often overlooked as an indicator of financial success, has put the company in position to get the most out of their many assets.

 

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