The Globe and Mail reports in its Friday, Sept. 29, edition that TD Securities analyst Menno Hulshof has lowered his recommendation for Suncor Energy to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equties column that Mr. Hulshof gave his share target a $3 boost to $52. Analysts on average target the shares at $51.42. Mr. Hulshof says in a note: "With [Thursday] morning's concurrent commodity price deck change, our new target price of $52 per share reflects a 14-per-cent target return, which is below our 20-per-cent-plus threshold for buy-rated stocks. Arguably lacking positive near-term operating momentum vs. peers: While Suncor's new CEO, Mr. Rich Kruger, has wasted no time in driving positive changes and cost-structure improvements, the Q2/23 cyber-incident, which management considers financially immaterial, somewhat overshadowed these initiatives. In our view, it could take several quarters for the Street to factor in the upside associated with ongoing improvements." The Globe reported on Aug. 6, 2022, that Mr. Hulshof had reaffirmed his "buy" recommendation for Suncor Energy. it was then worth $39.08.