The Globe and Mail reports in its Thursday, Aug. 8, edition that BMO Nesbitt Burns analyst Randy Ollenberger has upgraded Suncor Energy to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ollenberger sees Suncor's execution continuing to "impress." Mr. Ollenberger has an unchanged share target of $62. Analysts on average target the shares at $60.36. Mr. Ollenberger says in a note: "Suncor reported much better-than-expected Q2/24 financial and operating results as the company completed its heavy turnaround activities ahead of schedule. Upstream production and refining throughput came in materially higher than expected, while oil sands operating costs were much lower than estimated. This marks the third consecutive quarter of significantly improved operational performance. We see further upside to the shares if the company can maintain recent performance and make progress towards its net debt floor." On Tuesday, Calgary-based Suncor reported quarterly cash flow per share of $2.65, blowing past the expectations of both Mr. Ollenberger ($2.26) and the Street ($2.28) due largely to stronger oil sands production and lower operating costs.