The Globe and Mail reports in its Thursday, July 4, edition that RBC Dominion Securities analyst Greg Pardy thinks Suncor Energy is "well positioned to demonstrate ongoing operating and financial momentum, while addressing its longer term development opportunities." The Globe's David Leeder writes that Mr. Pardy has reaffirmed Suncor Energy as his favourite integrated energy producer in Canada and its place on the firm's "Global Energy Best Ideas" list. Touting its organic growth opportunities and long-term production profile, Mr. Pardy kept an "outperform" recommendation and $65 share target for Suncor Energy. Analysts on average target the shares at $59.79. Mr. Pardy says in a note: "At current levels and under futures pricing, Suncor is trading at a 2024 estimated debt-adjusted cash flow multiple of five times and a free cash flow yield of 11 per cent (vs. our peer group avg. of 9 per cent). We believe the company should trade at an average multiple vis-a-vis our peer group given its physical integration, attractive downstream assets, free cash flow generation, solid balance sheet and rising shareholder returns, somewhat counterbalanced by the need to address its Base Mine depletion down the road."