The incoming Trump administration may favor fossil fuel companies through deregulation, impacting energy stocks.
A second Trump administration is likely to affect most, if not all, corners of the stock market, there are few areas expected to be impacted as significantly as the are well-positioned in this space, thanks to their extensive infrastructure and established operations. Six out of eight analysts Suncor have rated it a Buy, and the consensus price target of $56.40 is nearly 40% above current price levels. If Suncor can maintain its operations and remain disciplined about debt management, investors could reap rewards both in stock appreciation and dividends.Another Canadian company, Cenovus has a diverse set of both downstream and upstream operations that has helped it to stand out among smaller energy firms.
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