The Globe and Mail reports in its Friday edition that RBC Capital analyst Greg Pardy has reaffirmed his "outperform" recommendation for Suncor Energy following what he calls "impressive" first quarter results. The Globe's Darcy Keith writes that Mr. Pardy gave his share target a $2 boost to $60. Analysts on average target the shares at $55.87. Mr. Pardy says in a note: "As a turnaround story, Suncor's strong first quarter results continued to showcase its improving operating/financial momentum that we think will translate into relative share price appreciation over time. Suncor is our favorite integrated in Canada and on our Global Energy Best Ideas list. At current levels and under our base outlook, Suncor is trading at a 2024 debt-adjusted cash flow multiple of 4.9 times (vs. our global major peer group avg. of 6.1 times) and a free cash flow yield of 11 per cent (vs. our peer group average of 9 per cent). We believe the company should trade at an average multiple vis-à-vis our peer group given its physical integration, attractive downstream assets, free cash flow generation, solid balance sheet and rising shareholder returns, counterbalanced by the need to address its Base mine depletion in the coming years."