The Globe and Mail reports in its Thursday, May 23, edition that RBC analyst Greg Pardy reaffirmed his "outperform" recommendation for Suncor Energy. The Globe's David Leeder writes that Mr. Pardy gave his share target a $5 boost to $65. Analysts on average target the shares at $58.64. Mr. Pardy says Suncor is his favourite Canadian energy company. Mr. Pardy says in a note: "Going full gas -- a phrase which describes a cyclist going all out when riding -- captures our impression of Suncor's recent update. We like what we heard and would emphasize that Suncor's impressive operating performance over the past year gives its game plan credibility. Suncor Energy delivered a series of crisp presentations in its 2024 Business Update (2024-26) which emphasized the power of its integrated model and big opportunity to capture low hanging fruit across its portfolio. Our sense has been that Suncor has begun to thrive under the leadership of its new skipper, Rich Kruger, and this was reflected in what we viewed as a confident, bold and balanced plan." Alongside its redefined net debt targets, Suncor increased its share buyback allocation to 75 per cent (from 50 per cent) of free funds flow, beginning in the second quarter.