The Globe and Mail reports in its Thursday, Aug. 17, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for Suncor Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch gave his share target a $2 haircut to $48. Analysts on average target the shares at $49.83. Mr. MacCulloch says in a note: "The age-old adage that 'no news is good news' clearly rang true for Suncor after its 2Q23 financial results lacked major surprises, much to the satisfaction of the investment community, which appeared to have already penciled in downward revisions to corporate guidance. In fact, the tone of the conference call was downright upbeat, with a renewed sense of focus and optimism that better days lie ahead following a challenging period for the company, culminating most recently with the cybersecurity breach. Operationally, there is reason to support that view, with oil sands production poised to accelerate in 4Q23 following planned turnarounds at Fort Hills and Syncrude, while downstream maintenance has largely concluded for the year, thereby allowing Suncor to fully capitalize on strengthening crack spreads."