The Globe and Mail reports in its Wednesday, May 31, edition that CIBC World Markets analyst Dennis Fong is sticking with his "outperformer" recommendation for Suncor Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Fond lowered his share target to $61 from $62. Analysts on average target the shares at $52.12. Mr. Fong says in a note: "We have updated our estimates to incorporate ConocoPhillips's announcement of exercising its pre-emption right to purchase the remaining 50-per-cent interest in Surmont from TotalEnergies EP Canada Ltd. We still anticipate Suncor to complete a transaction with TotalEnergies to acquire the remaining working interests in Fort Hills assets. As a result, we are reducing our price target to $61 (from $62), which represents an asset transaction for Fort Hills and the lower benefit of cash taxes from the revised acquisition." The Globe reported on March 2 that RBC rated Suncor "outperform" when it was worth $46.74. The Globe reported on April 29 that National Bank Financial analyst Travis Wood upgraded Suncor to "outperform" from "sector perform." He called Suncor's valuation "compelling." The shares could then be had for $42.42.